Planning Board recommends approval of two Tax Increment Financing agreements.
Planning Board recommends approval of two TIF agreements for corporate sites. Chair Neil Magenheim and the five-member board voted 4-0-1 to recommend approval of Warrant Articles 33 and 34, which would provide Tax Increment Financing agreements to AdvanCell at One Corporate Drive and Onto
Planning Board · Meeting of April 24, 2026
ANDOVER — Planning Board recommends approval of two TIF agreements for corporate sites. Chair Neil Magenheim and the five-member board voted 4-0-1 to recommend approval of Warrant Articles 33 and 34, which would provide Tax Increment Financing agreements to AdvanCell at One Corporate Drive and Onto Innovation at the former Phillips campus on Minuteman Road. Director of Planning & Land Use Paul Materazzo explained the TIFs would incentivize private investment and job creation while supporting reuse of long-vacant commercial properties.
The board deferred financial and fiscal impact review to the Select Board and Finance Committee, focusing instead on the planning rationale for the agreements.
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Source: the Planning Board meeting of April 24, 2026, compiled from the official minutes.
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