City of Somerville header
File #: 202582    Version: 1
Type: Resolution Status: Approved
File created: 12/6/2016 In control: City Council
On agenda: 12/8/2016 Final action: 12/8/2016
Enactment date: 12/8/2016 Enactment #: 202582
Title: That the Administration continue exploring with MA DOR the use of the proceeds from the sale of the Powder House Community School as principal towards the $50,000,000 GLX bond.
Sponsors: Mary Jo Rossetti, and the Entire Board

  Agenda Text

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That the Administration continue exploring with MA DOR the use of the proceeds from the sale of the Powder House Community School as principal towards the $50,000,000 GLX bond.

 

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Official Text

That the Administration actively continue discussions with the MA Department of Revenue to explore the possibility of applying the proceeds from the sale of the former Powder House Community School building, in its entirety, to the principal of the anticipated $50 million bond for the Green Line Extension project.