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Requesting the appropriation of $29,890.97 from Free Cash to the EPA Brownfield Revolving Loan Account for payment #1 of the Conway Rink Repayment.
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Official Text
To the Honorable Board:
I respectfully request an appropriation of $29,890.97 from Free Cash Account to the EPA Brownfields program income account, for the purpose of re-payment of the Conway Park rink brownfield cleanup loan.
The City of Somerville operates a Brownfield Cleanup Revolving Loan program funded through federal EPA grant funds. In 2012, the city utilized $298, 909.67 of these funds to cleanup the Conway Rink site. The site was originally home to Middlesex Bleachery and Dye Works, a producer of finished goods made of cotton. It was established in 1821 and closed in1936. The facility was then home to a rum distillery and most recently was the location of a smelting company. The site was acquired by the City in 1996 and redeveloped as a park in 2000. Brownfield funding was used for development of an indoor ice rink and remediation of the entire site in 2012.In accordance with closeout requirements for the grant the city is executing a ten year 0% loan agreement for repayment of these funds. $29,890.97 represents the first payment on this loan.
My staff will be available to address any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Joseph A. Curtatone, Mayor