City of Somerville header
File #: 213953    Version: 1
Type: Mayor's Request Status: Approved
File created: 6/2/2022 In control: City Council
On agenda: 6/9/2022 Final action: 6/9/2022
Enactment date: 6/9/2022 Enactment #: 213953
Title: Requesting an appropriation and authorization to borrow $4,000,000 for financing a portion of the Clarendon Hill Redevelopment Project, including construction of affordable housing, as recommended by the Community Preservation Committee.
Code sections: Bond/BAN -
Attachments: 1. Clarendon Hill CPA Affordable Housing Appropriation Order $4M June 2022, 2. CPC Recommendation

  Agenda Text

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Requesting an appropriation and authorization to borrow $4,000,000 for financing a portion of the Clarendon Hill Redevelopment Project, including construction of affordable housing, as recommended by the Community Preservation Committee.

 

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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 $4,000,000 in order to finance a portion of the Clarendon Hill Redevelopment Project. To meet said appropriation, the Treasurer will be authorized to borrow $4,000,000 as provided by MGL Chapter 44 and 44B.

 

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

 

Respectfully,

Katjana Ballantyne, Mayor