The EDIC Board is appointed by the Mayor and approved by the City Council. It was established by the Legislature in 1977 to acquire vacant, idle, underutilizes industrial parcels to promote Economic Development in the city (Lynn Heritage State Park, Seaport Marina, Urban Heritage State Visitors Park, Lynn Waterfront Industrial Park and Marine Industrial Park America East.)
The Board sets policy for the Agency and is responsible for oversight of various loan programs and Tax Increment Financing to secure local work force, to assist local business growth and to create new jobs in the city of Lynn. The Board has designated the Downtown for priority funding in attempting to create new Commercial Business and Residential housing opportunities in the City of Lynn. |
