Submitted by Town of Bedford:
STR is hosting an information session to answer questions regarding a proposed Increment Financing (TIF) for residents from 7 to 8 p.m. on Wednesday, June 5 in the Reed Room at Town Hall.
Article 2 at the upcoming Special Town Meeting on June 11 would authorize this agreement for the planned relocation of Systems & Technology Research LLC (STR) headquarters to 174 and 176 Middlesex Turnpike.
The agreement would permit the short-term reduction of the new property taxes generated from the redevelopment of the existing office buildings into a combination of classified lab space and offices for the company’s corporate headquarters. The tax reduction would not be permanent and the redevelopment adds value to the Town’s commercial/industrial tax base.
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