City of Somerville header
File #: 25-0524    Version: 1
Type: Mayor's Request Status: Approved
File created: 3/20/2025 In control: City Council
On agenda: 4/24/2025 Final action: 5/15/2025
Enactment date: 5/8/2025 Enactment #: 218954
Title: Requesting approval to create the Chestnut Street Multimodal Safety Stabilization Fund and accept a payment of $99,127 from the developer of 100 Chestnut Street to implement multimodal safety and access improvements.
Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, SPCD-Mobility
Code sections: Stabilization Fund -
Attachments: 1. 100 Chestnut St - In-Lieu Payment Memo

Agenda Summary

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Requesting approval to create the Chestnut Street Multimodal Safety Stabilization Fund and accept a payment of $99,127 from the developer of 100 Chestnut Street to implement multimodal safety and access improvements.

 

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Official Text

To the Honorable City Council:

 

The Mayor respectfully requests that this Council approve the creation of the Chestnut St. Multimodal Safety Stabilization Fund and accept $99,127.00 for the Fund from the Developer of the 100 Chestnut St. Development, under the provisions of MGL 40, Section 5B. This fund will be used for mitigating transportation impacts through the implementation of multimodal safety and access improvements.

 

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

 

Respectfully Submitted,

Katjana Ballantyne, Mayor