Sandbox Project: $118M TIF agreement proposed
Town of WestminsterCity · Westminster, MA- Disclosed value
- $118M
- From meeting minutes
- Document date
- Jun 24, 2024
- Term
- 10 years
The 30-second brief
Developers are proposing a tax increment financing (tif) agreement for "project sandbox" on lot 17 of the industrial park. The project will cost $118m in construction. They are working on their draft tif request which will be shared with the board as soon as it is received. The initial conversations have been centered around the potential of a 10-year tif, with emphasis placed on revenues in 2030 to offset the reduction and loss in landfill host community fees.
Project Sandbox holds this tax increment financing (tif) contract with Town of Westminster.
Term as filed: 10 years.
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Contract details
- Contract type
- Tax Increment Financing (Tif)
- Amount
- $118M
- Document date
- June 24, 2024
- Term
- 10 years
- Vendor
- Project Sandbox
- Agency
- Town of Westminster
- Source document
- town-of-westminster-meeting-minutes-2024-06-24_26e.pdf (Meeting Minutes)
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Questions about this contract
Who was awarded the tax increment financing (tif) contract by Town of Westminster?
Project Sandbox was awarded this tax increment financing (tif) contract by Town of Westminster, as recorded on June 24, 2024. The contract value is $118M.
How much is the Project Sandbox contract with Town of Westminster worth?
The Project Sandbox contract with Town of Westminster is valued at $118M, covering tax increment financing (tif) work.
What type of contract is this?
This is a Tax Increment Financing (Tif) contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in town-of-westminster-meeting-minutes-2024-06-24_26e.pdf (Meeting Minutes), dated June 24, 2024 from Town of Westminster. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Project Sandbox hold?
Project Sandbox may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Westminster currently buying?
Explore Town of Westminster's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.