Agenda Text
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Requesting an appropriation of $625,000 for the reconstruction and streetscape of East Broadway and authorization to borrow $625,000 in a bond to meet said appropriation.
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Official Text
To The Honorable Board:
I respectfully request an appropriation of six hundred twenty five thousand dollars ($625,000.00) for the cost of reconstructing and making related streetscape improvements to Lower Broadway in East Somerville, and authorizing the Mayor and City Treasurer to borrow not exceeding $625,000.00 to meet said appropriation, in accordance with the provisions of Chapter 44, of the Massachusetts General Laws.
The total construction value of the Broadway Streetscape Project is $7,917,175.70 of which $5,231,888.40 are cost that the City of Somerville is responsible for. This includes utility work in the amount of $3,291,893 that will be paid for using Massachusetts Water and Resources Authority (MWRA) funds (approved by your Honorable Board on April 26, 2012).
The remaining balance of $1,939,995.40 will be paid for with a combination of state funds from Housing and Economic Development, Community Development Block Grant funds, and general obligation bond funding.
My staff will be available to answer any queries you may have.
Respectfully submitted,
Joseph A. Curtatone
Mayor