It also establishes a requirement for Minco to obtain financing for the project, places restrictions on the transfer of the project and use of the property, and imposes perpetual requirements to maintain affordable housing and open space at the site. The agreement establishes a timeline by which Minco must pursue permit applications, begin construction, and complete the project. The vote represents a significant milestone in advancing Minco’s proposed development of the site, which is anticipated to include 163 residential units, community amenities, and retail space. The board also approved a Conceptual Program and Plan (CPP) outlining the development plan – this revised CPP reflected a larger and more attractive development made possible by Minco’s acquisition of several privately-owned properties that abut the Old Town Yard. Reviewing the disposition in a second reading, the Select Board voted unanimously to approve a land disposition agreement (LDA) with Minco Development Corporation for 11 Lewis Street, also known as the Old Town Yard. Other actions included the Board’s review of an initiative petition for construction of an affordable home on Mary Lou Lane, the approval of end-of-year transfers, and the appointment of members to the newly-established MBTA Communities Working Group. Town Manager Andrew Flanagan provided an update on the Town’s progress in implementing strategic goals set by the Select Board at the beginning of the current fiscal year both to assess recent progress and to develop new goals for the year ahead. The Board also voted 3-2 to accept the building option for the Andover High School project recommended by the School Building Committee, while acknowledging that significant work remains in assessing the financial impact of the proposed project. Formalizing a milestone in the long-anticipated development of the Old Town Yard site, the Board voted unanimously to sign a land disposition agreement with Minco Development Corporation for 11 Lewis Street. ANDOVER, MA – The Andover Select Board met on Monday, June 12 in the School Committee Conference Room at the Andover Public Schools Administrative Offices.
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