It is the intent of the City of Everett to help remove financial impediments to the clean up and redevelopment of neglected and abandoned properties zoned for business and industrial uses in the City and to encourage “innocent” owners and lenders to develop these properties.
The Mayor is hereby authorized to negotiate agreements regarding the payment of outstanding real estate taxes, interest and penalties, including abatement of those amounts needed to make a cleanup and redevelopment project economically feasible. Said agreement may also contain additional incentives, financial and otherwise as may be deemed appropriate.
(A0173-12)
(a) 
Agreement shall cover property contaminated with oil or other hazardous materials as defined by the Massachusetts Department of Environmental Protection, and/or the United States Environmental Protection Agency and be zoned for commercial or industrial use.
(b) 
Agreements may be entered into only with eligible persons as defined by the Massachusetts General Laws, Chapter 21E, section 2 who did not own the site at the time the oil or hazardous material was released and did not cause or contribute to its release.
(c) 
Agreements must specify the details agreed to regarding payment of any outstanding obligations, including the amount owed, rate of interest to accrue if any, amount of monthly payments, payment schedule, late penalties and other terms. These obligations may consist of outstanding real estate taxes or other financial packages negotiated with the City.
(d) 
Agreements must be signed by the mayor, president of the city council, the Board of Assessors, the property owner and must be notarized and attested to by the City Clerk. Copies must be provided to the Massachusetts Commissioner of Revenue, Massachusetts Department of Environmental Protection, and the United States Environmental Protection Agency. Additionally the property owner and the City Council must receive copies.
(Ord. of 12-18-2000; Ord. 6-25-2001)
All agreements negotiated by the Mayor and the Owner of the property that reduce outstanding property taxes, penalties and interest that total more than one hundred thousand dollars ($100,000) shall be subject to approval by a two-thirds vote of the City Council.