Neil Zolot / Correspondant
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City officials last week approved a special tax plan that will bring an expected 250 jobs to Medford over the next 10 years.
The Medford City Council on Dec. 8 approved Tax Increment Financing for Monogram Gourmet Foods to reopen the old Whole Foods Market, Inc., Bread & Circus Bakehouse, at 300 Middlesex Ave. as a wholesale supply facility.
“We think this will be a great partnership for years,” Monogram Vice-President for Warehousing and Logistics Jeffrey Modica said.
“This is a business we welcome with open arms,” added Mayor Breanna Lungo-Koehn, who proposed TIF at the Dec. 1 meeting, in which “municipalities may grant property tax exemptions to landowners of up to 100% of the tax increment for a fixed period,” according to the state Smart Growth/Smart Energy Toolkit.