VIDEO: Horizon Beverage Article Unanimously Passed at Town Meeting
Articles 1, 2, 3, 4, 5, 7 and 11 passed as well.
At the Town Meeting held tonight, Wednesday, Jan. 19 at Henri A. Yelle Elementary School, Brian Coughlin and the rest of the First Night Committee was commended for their part in the tricentennial celebration of Norton. They also lead the town in the Pledge of Allegiance.
During the Town Meeting, articles 1, 2, 3, 4, 5, 7, 11 and 12 were passed. Perhaps the article bringing in most of the voters was 12, which was passed unanimously.
A Tax Increment Finance Plan, commonly called TIF, is a public financing method used as a subsidy for redevelopment and community improvement projects. In this case, it would transform the currently vacant GM building into a job-producing facility.
The 13-year TIF will exempt the plant from a certain amount of taxes on additions they plan to build onto the existing structure. The expansion project and the TIF must be filed with and approved by the Massachusetts Economic Assistance Coordinating Council.
For more on Town Meeting, check back tomorrow on Norton Patch.