City of Somerville, Massachusetts - File #: 189740

• File #: 189740
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 6/9/2010
• In control: City Council
• On agenda: 6/10/2010
• Final action: 7/16/2010
• Enactment date: 6/29/2010
• Enactment #: 189740
• Title: Requesting an Appropriation of the $ 1,000,000 Federal Realty Investment Payment from Receipts Reserved for Appropriation to the Rainy Day Stabilization Fund
• Code sections: Stabilization Fund -

Date	Ver.	Action By	Action	Result
7/16/2010	1	City Council	Section 16 Approval
6/29/2010	5	City Council	Approved
6/10/2010	4	City Council	Referred for recommendation

  Agenda Text

title

Requesting an Appropriation of the $ 1,000,000  Federal Realty Investment Payment from Receipts Reserved for Appropriation to the Rainy Day Stabilization Fund

body

Official Text

To the Honorable Board of Aldermen:

I hereby request, subject to the approval of your Honorable Board, an appropriation of one million dollars ($1,000,000.00) from Receipts Reserved for Appropriation to the Rainy Day Stabilization Fund. (Fund 70)

The $1,000,000.00 in Receipts Reserved is the Federal Realty Investment Trust’s recent payment to the City of Somerville pursuant to the Amended and Restated Assembly Square Development Covenant dated December 14, 2006.

Thank you for your consideration.