City of Somerville, Massachusetts - File #: 208854

• File #: 208854
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 9/9/2019
• In control: City Council
• On agenda: 9/12/2019
• Final action: 9/26/2019
• Enactment date: 9/12/2019
• Enactment #: 208854
• Title: Requesting an appropriation and authorization to borrow $2,745,543.06 in a bond to fund Union Square Revitalization Plan eminent domain settlements.
• Code sections: Bond/BAN -

Date	Ver.	Action By	Action	Result
10/1/2019	6	BOA	Mayoral Approval
9/26/2019	5	City Council	Approved
9/24/2019	4	Finance	Approved
9/12/2019	3	City Council	Referred for recommendation

  Agenda Text

title

Requesting an appropriation and authorization to borrow $2,745,543.06 in a bond to fund Union Square Revitalization Plan eminent domain settlements.

body

Official Text

To the Honorable City Council:

I hereby request, subject to the approval of your Honorable City Council, an appropriation in the amount of $2,745,543.06 for the purpose of funding settlement agreements reached by the parties in the matters of  of  Fahey vs. SRA,  49-51 Allen Street Trust, and Shelzi/Deutsche Bank. To meet said appropriation, the Treasurer will be authorized to borrow $2,745,543.06 as provided by MGL Chapter 44.

Calculation of the settlement accounts plus accrued interest total $2,745,543.06.

The settlement arises out of an eminent domain taking of property on the D-2 Block on May 29, 2013.

I am attaching a memo written by Special Counsel, Eileen McGettigan explaining this settlement previously submitted to your Honorable City Council in January 2019.

My staff will be available to address any questions you may have. Thank you for your consideration of this item.

Respectfully Submitted,

Joseph A. Curtatone, Mayor