Agenda Text
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Requesting authorization to amend #193816, an authorization to borrow and bond for Union Square Urban Renewal Block D2, by increasing the total amount to $9,500,000.
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Official Text
To the Honorable Board:
I hereby request, subject to the approval of your Honorable Board, an amendment to Board Order 193816 Approved in October of 2012 for an original amount of $8,000,000. Requesting an increase of $1,500,000 to the appropriation, and amending authorization for the City Treasurer, with the approval of the Mayor to borrow $9,500,000.
Costs for relocations, engineering and site preparation have come in higher than anticipated when the initial bond was approved in 2012.
To meet said appropriation, the Treasurer will be authorized to borrow $9,500,000 as provided by M.G.L. Chapter 44.
Thank you for your consideration of this matter.
Joseph A. Curtatone
Mayor