Agenda Text
title
Requesting an appropriation of $40,000 from the Union Square Stabilization and Revitalization Fund for services in connection with the redevelopment of Union Square.
body
Official Text
To the Honorable Board:
The Union Square Stabilization and Revitalization Fund ("USQ Stabilization Fund") was created by vote of the Board at its December 11, 2014 meeting in Board Order 198161. The USQ Stabilization Fund holds deposits given by Union Square Station Associates, LLC ("US2"), the Union Square Master Developer, pursuant to a Master Developer Designation Agreement ("MDDA") between the Somerville Redevelopment Authority ("SRA") and US2. Under the MDDA, the monies in the USQ Stabilization Fund are to be used to pay expenses incurred in the engagement of planning consultants for the Union Square Somerville by Design neighborhood planning process and outside legal counsel for the SRA.
Accordingly, I respectfully request the appropriation of an additional $40,000.00 (the newly deposited amount) from the Union Square Stabilization and Revitalization fund, to pay legal, planning and consulting services in connection with the redevelopment of Union Square pursuant to the Union Square Revitalization Plan.
Respectfully Submitted,
Joseph A. Curtatone
Mayor