Bill > H5014

This bill authorizes the town of Ashland to establish a special revenue fund for an economic development funding program. The program aims to provide assistance, such as loans or grants, to private businesses and individuals to encourage and facilitate economic growth, job creation, and increase the town's tax base. The program will be administered by the board of selectmen, who will establish the rules and regulations, including eligibility criteria and repayment terms. The town can appropriate funds or accept gifts to support the program, and the town manager can create sub-categories within the fund for specific purposes. The town manager, with the board's approval, can establish various programs, such as for sign and façade improvements, rent and utility support, and real estate development, but cannot use the funds for interior business improvements or public walkways. The town manager can award grants and loans to qualifying businesses and individuals, and must provide an annual report on the program's activities and finances.

https://malegislature.gov/Bills/190/H5014