City of Somerville, Massachusetts - File #: 207725

• File #: 207725
• Version: 1
• Type: Resolution
• Status: Approved
• File created: 3/26/2019
• In control: City Council
• On agenda: 3/28/2019
• Final action: 5/23/2019
• Enactment date: 3/28/2019
• Enactment #: 207725
• Title: That the Administration discuss matching Newton’s 41(A) tax deferral program income limits and interest, which are $86,000 at 2.5% interest, vs. Somerville's $57,000 at 3% interest.
• Sponsors: Stephanie Hirsch, Katjana Ballantyne, Mary Jo Rossetti, Ben Ewen-Campen, Mark Niedergang, Wilfred N. Mbah

Date	Ver.	Action By	Action	Result
5/23/2019	4	City Council	Work completed
5/21/2019	3	Finance	Work completed
3/28/2019	2	City Council	Approved

  Agenda Text

title

That the Administration discuss matching Newtons 41(A) tax deferral program income limits and interest, which are $86,000 at 2.5% interest, vs. Somerville's $57,000 at 3% interest.

body

Official Text

That the Administration discuss the feasibility of Somerville matching Newton’s 41(A) tax deferral program income limits and interest, which are $86,000 at 2.5% interest for Newton vs $57,000 at 3% interest rate for Somerville.