Lakeville approves 13-year TIF for Sysco Boston at Lakeville Hospital site

Town meeting voters in Lakeville on May 24 approved a tax-increment financing (TIF) plan and related authorizations for Sysco Boston to redevelop the former Lakeville Hospital site on Main Street, the town moderator announced after a counted vote of the assembled meeting.

The measure authorized the Board of Selectmen to approve and sign a 13-year TIF agreement with Sysco Boston, to submit a certified expansion project application and related documents to the Economic Assistance Coordinating Council of the Commonwealth of Massachusetts (EACC), and to pursue designation of the property as an Economic Opportunity Area under state law. The measure passed by counted vote; the moderator declared the tally 396 in favor, 140 opposed.

The vote advances the developer’s request for a TIF that, as presented at the meeting, would begin with an 80% exemption on assessed real-estate taxes and taper over 13 years under the schedule on file with the town. Sysco Boston representatives said the company intends to demolish the existing hospital buildings, remediate contaminated soils identified on the property and…