Town Of HamiltonHome Rule Petition

Hamilton Development Corporation

Purpose:

• To function as a legal entity dedicated to diversifying the tax base

• A tax-exempt holding company

• Planned commercial development

• Integrate the Downtown Business District

• Use financial tools to attract new businesses to Hamilton

Development Zone

• Downtown Business District; and

• Areas where Commercial Overlay Districts currently exist (Landfill, Willow St.); and

• Areas where new Commercial Overlay Districts are voted by Town Meeting

Leadership Role

• 7-member Board of Directors appointed by the Selectmen

• Expertise required in planning, real estate, legal, finances, business, architecture, etc.

• Members are Town residents, business owners or government officials

• One member from the Economic Development Committee

Program Costs

• Funded by HDC revenues

• Shared expenses with developers

• Grants

• Meals Tax receipts?

• Bond issues approved by Town Meeting

Benefits of the HDC:

• To meet Hamilton’s revenue needs

• To design a cohesive commercial growth plan

• To serve as a central focus with developers

• To market the attractions of doing business in Hamilton

• To respond to citizens’ concerns

Ratification Process• Public Hearing• Selectmen vote to include the article in the May Town Meeting

Warrant• Town Meeting votes approval• Sen. Bruce Tarr or Rep. Brad Hill sponsors Home Rule Petition in

Legislature• Forwarded to Joint Legislative Committee• Testimony from Hamilton supporters• Recommendations from the Joint Legislative Committee• Passage by the House and Senate• Governor signs a Special Act• Takes effect upon passage