The committee shall be comprised of seven (7) members appointed by and serving at the pleasure of the Board of Selectmen for terms of three (3) years, with preference given to individuals with professional expertise in commercial real estate financing or development; real estate financing or development; real estate law; utilities or technology; marketing or merchandising; business or non-profit organization development; training and education; business owners; or participation in business associations and organizations. The Town Planner and Town Administrator shall serve ex officio without the right to vote and his/her presence shall not be counted in determining a quorum. Initially, two (2) members shall be appointed for one (1) year; two (2) members shall be appointed two (2) years; and three (3) members shall be appointed for three (3) years, to establish staggered, three-year (3) terms.
The purpose of the committee shall be:
- To identify changing economic trends and development resources available to town boards and commissions.
- To develop and advocate for an economic development strategy that maximizes commercial property tax revenues and generates employment opportunities as part of a broader, long-range strategic plan for the community as established by the Board of Selectmen.
- To continuously review town bylaws, regulations and zones for consistency with the Town's economic development goals, and to make any applicable recommendations to improve permitting, licensing and regulatory functions to the appropriate board or commission.
- To promote streamlining of the Town's regulatory processes as related to commercial development.
- To advocate for state and federal legislation and regulations that advance economic development in Wayland.
- To work with staff to obtain Federal and state grant funds to further the economic development strategy; and
- To support and encourage new businesses seeking to locate in Wayland and existing businesses seeking to remain or expand in Wayland.