City of Somerville, Massachusetts - File #: 213952

• File #: 213952
• 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 #: 213952
• Title: Requesting an appropriation and authorization to borrow $10,000,000 to implement the Clarendon Hill Development Program within the Clarendon Hill DIF Development District.
• Code sections: Bond/BAN -

Date	Ver.	Action By	Action	Result
6/14/2022	5	BOA	Mayoral Approval
6/9/2022	4	City Council	Approved

  Agenda Text

title

Requesting an appropriation and authorization to borrow $10,000,000 to implement the Clarendon Hill Development Program within the Clarendon Hill DIF Development District.

body

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 $10,000,000 in order to pay costs of implementing the City's Clarendon Hill Development Program within the Clarendon Hill DIF Development District. The Clarendon Hill Development Program was adopted by the City Council on December 9, 2021.

To meet said appropriation, the Treasurer will be authorized to borrow $10,000,000 as provided by MGL Chapter 44 and Chapter 40Q.

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

Respectfully,

Katjana Ballantyne, Mayor