Select Board approves Old Town Yard amendments, TIF with Onto Innovation.
Select Board approves Old Town Yard redevelopment amendments ahead of June 22 closing. The board unanimously signed a confirmatory first amendment and a second amendment to the land disposition agreement with Minco Development Corporation, extending the fully developed site timeline from August 31,
Select Board · Meeting of June 15, 2026
ANDOVER — Select Board approves Old Town Yard redevelopment amendments ahead of June 22 closing. The board unanimously signed a confirmatory first amendment and a second amendment to the land disposition agreement with Minco Development Corporation, extending the fully developed site timeline from August 31, 2029, to May 31, 2029, due to Department of Transportation review. The board also unanimously approved a $367,000 bond anticipation note, $350,000 for the Shawsheen River Interceptor rehabilitation project and $17,000 for 92 Tewksbury Street purchase, and signed a 15-year Tax Increment Financing Agreement with Onto Innovation for a $40 million facility renovation and 400 net new jobs.
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Source: the Select Board meeting of June 15, 2026, compiled from the official minutes.
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