City of Somerville header
File #: 211081    Version: 1
Type: Mayor's Request Status: Approved
File created: 12/15/2020 In control: City Council
On agenda: 12/17/2020 Final action: 12/17/2020
Enactment date: 12/17/2020 Enactment #: 211081
Title: Requesting approval to accept and repurpose a payment of $300,000 from the Wynn Casino Surrounding Community Agreement to the COVID-19 Small Business Emergency Relief Fund.
Code sections: Stabilization Fund -

  Agenda Text

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Requesting approval to accept and repurpose a payment of $300,000 from the Wynn Casino Surrounding Community Agreement to the COVID-19 Small Business Emergency Relief Fund.

 

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Official Text

To the Honorable City Council:

 

 

I respectfully request that your Honorable City Council accept and repurpose payments totaling $300,000  from the second annual payment from the Wynn Surrounding Community Agreement to be appropriated to the COVID-19 Small Business Emergency Relief Fund.

 

The Surrounding Community Agreement provides a $150,000 payment for business development to prepare local businesses to take advantage of the opportunities provided by the Casino. This payment is normally booked to Fund 7133 - the Small Business Assistance Stabilization Fund. This action appropriates this payment to the COVID-19 Small Business Emergency Relief Fund.

 

The Surrounding Community Agreement provides a $150,000 payment for improvements to facilitate water transportation to the Casino Project and to fund staffing and other public safety initiatives related to increased use of water transportation. The payment is normally booked to Fund 7134-Water Transportation Public Safety Stabilization Fund. This action appropriates this payment to the cOVID-19 Small Business Emergency Relief Fund.  

 

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

 

Respectfully Submitted,

Joseph A. Curtatone, Mayor