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New Framingham Economic Development Corporation outlines powers, seeks clear city vision and funding
Summary
The newly formed Framingham Economic Development Corporation presented its board, statutory powers and early priorities to the City Council on April 15 and asked city leaders for a clear development strategy and funding to support projects that increase commercial ratables.
The newly reconstituted Framingham Economic Development Corporation (EDC) briefed the City Council on April 15 about its statutory powers, board composition and early priorities, and urged a coordinated city vision and funding plan to attract large, taxable commercial projects.
Board chair Doug Lawrence said the corporation — created under state enabling legislation and composed of members with industry and municipal experience — can own and lease property, enter contracts, provide project financing, and work with banks and developers. The EDC replaces an earlier…
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