MANSFIELD - Selectmen advanced a pair of tax incentive proposals for life science companies, placing the issue before voters at next month's fall town meeting.

At Wednesday's meeting, selectmen recommended tax increment financing (TIF) proposals submitted by Covidien and Medline, two companies looking to expand in the Cabot Industrial Park. The town's TIF committee voted favorably on the agreements at a meeting last week.

The proposals would grant the companies property tax relief on new expansions they are looking to complete in the coming year. Covidien would receive 20 years of property tax relief, while Medline would receive 10 to 13 years of relief, pending a state ruling on the minimum length of such agreements.

The agreements will be part of the Nov. 18 town meeting. The proposals will not be able to advance without the approval of voters.

Under TIF agreements, owners initially pay taxes only on the original value of the property they purchase, not the increased value once renovations are completed. The companies then pay incrementally more over the span of the agreements until finally paying the full property tax when the agreement expires. Covidien is looking to purchase and renovate a building at 777 West St., which is now occupied by Albany International. The company is expecting to pay about $27 million to turn the building from a manufacturing plant into a research and development facility. Covidien officials estimate the new facility will create 50 new jobs.

Medline is looking to buy land at 560 West St. and build a 325,000-square-foot manufacturing plant. The company plans to move its operations to the new building from its current Hampden Road location, retaining 48 positions and creating 10 additional full-time jobs in the process.

The two companies will be holding informational meetings with residents next month in advance of town meeting.

If voters approve the proposals next month, the agreements must also be approved by the state before becoming official.