Van Vactor Farms, Inc. (VVF) recently presented the City of Plymouth with a check in the amount of $121,215 as a part of their on-going commitment to donate half of the proceeds from land sales in The techFarmTM to the City. In June of 2017, VVF presented the City with a check for $111,000.
The latest donation stems from a land sale for the construction of an office complex and facilities to serve the Aquatics Center project located at the LifePlex.
The Plymouth Board of Works passed a resolution in November of 2017 to “use its share of land sales proceeds received under the Agreement for improving the infrastructure and assisting with site work in The techFarm or in real estate adjacent thereto and/or such amounts may be waived as an incentive for techFarm lot purchasers.”
David Miller, Development Director for Van Vactor Farms, Inc. provided the following account of the progression of the donations.
In 2004 Van Vactor Farms, Inc. offered to donate 20 acres of land in their industrial park to the City in order to build a technology park to help stimulate technology-related economic development in the area.
The donation of land would allow the City to apply for various infrastructure grants and the City could use the over $450,000 value of the land as a local match. As the project planning progressed, the proposed tech park design grew to about 40 acres and in lieu of the donation of that much land, VVF instead offered to split the proceeds from the land sales with the City.
Miller said, “Our Company’s original intent of splitting the land sale proceeds (in effect the value of the 20 acre original donation) was to further develop and support the technology park and its potential tenants with infrastructure improvements or land acquisition assistance.”
The techFarmTM currently has two manufacturing tenants: C-Spine, Inc., an orthopedic and dental device manufacturer and CTE Solutions, a manufacturer of orthopedic implants and instruments.
Provided by Van Vactor Farms
