WESTFIELD — The City Council authorized a tax increment financing agreement for ERD Metal at 323 Lockhouse Road and approved the land purchase for a new police station at its meeting on June 20.
In presenting a positive recommendation for the resolution from the Legislative and Ordinance Committee, Councilor Michael Burns said the agreement is for a city match for state credit for an expansion plan to allow the aluminum extrusion company to make frames for solar panels, among other products, in the former Agway plant.
Burns said the agreement is to abate 10% of the increased tax revenue the project would create, $4,255 per year, over five years. He said the proposal represents a $52 million investment in Westfield, and after buildout, the company is looking to have 92 full-time employees. The plan was approved by the Planning Board in January, he said.
