[HISTORY: Adopted by the Annual Town Meeting of the Town of Adams 6-18-2007 by Art. 29. Amendments noted where applicable.]
This bylaw is hereby established upon acceptance by the Town of Adams of MGL c. 59, § 59A. The Board of Selectmen 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. Agreements may be entered into only with new, innocent purchasers 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. 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, large penalties and other terms. These obligations may consist of outstanding real-estate taxes or other financing packages negotiated with the Town. Agreements must be signed by the Board of Selectmen, property owner, and must be notarized and attested to by the Town Clerk. Copies must be provided to the Massachusetts Commissioner of Revenue, Massachusetts Department of Environmental Protection, United States Environmental Protection Agency. Additionally, the property owner and the Town Meeting must receive copies. The Town Meeting must approve, by majority vote, any agreements that reduce outstanding property taxes, penalties and interest.