As Lowell Sun reported, a Lowell City Council vote regarding a tax increment financing agreement for a Draper project was postponed after Councilor Sean McDonough objected to waiving the full reading requirement during the November meeting. The item, which involves a proposal providing a tax exemption over a period of 15 years for the Draper facility in the Hamilton Canal District, is now scheduled for the agenda on Tuesday, November 10.
McDonough objected to waiving the requirements because the meeting fell on the night of the midterm election, noting that residents should have a chance to understand the development. Local unions, including the Merrimack Valley Building and Construction Trades Council, also pushed back on the agreement terms, writing a letter demanding a delay until provisions for local hiring goals and registered apprenticeship programs are included.
The proposed agreement outlines a $10 million exemption for real estate taxes, with Draper obligated to invest $25 million for machinery and equipment and hire 100 permanent, full-time jobs over 10 years. Groundbreaking for the 111,000 square foot building took place last month, with the facility projected to open in 2028.
