Memorandum of Understanding Between the Town

							 Memorandum of Understanding
Between the Town of Plymouth and Plymouth Rock
                    Studios




                      October 22, 2008
GENERAL PROVISIONS

   Two Party Agreement
   Separate agreement to bind current owner
   Amendments require majority of Selectmen
    following with public notice to abutters (300’)
    and an advisory recommendation by the
    Planning Board
GENERAL PROVISIONS
Continued

   MOU is effective upon execution
   PRS/Town will provide any necessary
    easements
   MOU provides for PILOT provision – only
    non-profit Educational/Research uses within
    the 200,000 sq ft educational campus are
    exempt
   MOU is binding on future owners
GENERAL PROVISIONS
Continued

   Amendments may be necessary due to
    changed circumstances, financially or as a
    result of project phasing
   MOU prioritizes infrastructure
    (1) Access          (2) Sewer
    (3) Energy needs (4) Water
    (5) Re-use line (6)Decommissioning of wells
INFRASTRUCTURE
Wastewater

   PRS to conduct sewer study
   PRS to design, permit and construct sewer
    extension to site and school property along
    preferred route
   If I-Cubed funds are available, PRS agrees to
    decommission school plant
   PRS to resurface streets impacted by sewer
    extension
INFRASTRUCTURE
Water Supply

   PRS to conduct a hydraulic study
   PRS to either convert existing well and
    connect to schools or utilize other options
    including Bradford Zone or 200 Acre site well
   PRS will design and locate a water tank at
    site deemed appropriate by Town and
    School Committee
INFRASTRUCTURE
Transportation


   PRS will undertake traffic improvements and
    mitigation as may be included in the MOU, I-
    Cubed and the Planning Board
   Clark Road will serve as the primary access
    to the project with Long Pond Road
    secondary and gated.
INFRASTRUCTURE
Transportation / School Access

   PRS to reimburse the Town for details or
    traffic control necessary for public safety at
    access roads, Clark Road and Long Pond
    Road
   PRS to design access road to include
    security lighting, emergency call boxes and
    traffic calming
   MOU provides for exploration of direct
    highway access connected to Town / State
TOWN SERVICES

   MOU identifies service areas impacted by
    development
   PRS will pay Town service costs through the
    MOU, TIF, special permit process, the
    MEPOD and I-Cubed.
   PRS will pay the Town for Inspectional costs
TOWN SERVICES
Continued

   PRS will pay the Town for fire inspections or
    fire watch activities as may be required
   PRS will pay the Town $1.4 million dollars for
    the acquisition of an aerial tower truck, or for
    the mitigation of public safety impacts
    (Pinehills improvements etc)
   PRS will reimburse the Town for future legal
    and consulting services associated with
    permits and approvals related to the project
OTHER MATTERS

   PRS to make available to the Plymouth
    Public Schools a classroom at the
    Educational Campus
   Town / PRS to study nitrogen loading and
    PRS shall implement necessary measures
   If natural gas line is to be installed, it will
    need to be adequate to accommodate
    current and future school needs
OTHER MATTERS
Continued

   PRS to fund the Municipal Liquidity Reserve as
    required in I-Cubed and provide the Town with
    necessary proof of funding at the amount required in
    the I-Cubed legislation
   In the event that new state tax revenues are not
    sufficient to pay debt service on the bonds issued
    under I-Cubed, resulting in a shortfall, PRS will hold
    the Town harmless for 80% of such shortfall, however,
    that PRS will assume additional liability for the shortfall
    if infrastructure actually approved under I-Cubed is of
    lesser benefit to the Town
OTHER MATTERS
Continued

   Town will recover its 20% liability through a
    reduction in TIF exemption, provided that if
    the Town cannot recover its 20% through the
    TIF, PRS will pay the difference to the Town
   PRS will make a PILOT payment to the Town
    in the event the total taxes collected is below
    $1,235,000 in yr 1, $1,435,000 in yr 2 and
    $1,635,000 in yr 3 and successive years with
    a 3.5% annual adjustment
OTHER MATTERS
Continued

   If needed, Selectmen support conveyance of
    89 acres of land for conservation / open
    space
   Selectmen will waive their right of first refusal
    under 61B if PRS acquires the site and
    moves forward with approvals under I-Cubed
   Selectmen agree to waive the sewer
    connection fees