Select Board reviews district improvement financing plan and $9M bond authorization
Staff told the board Articles 8 and 9 propose a district improvement financing (DIF) program and bond authorization up to $9 million to support project costs; staff said a $2,660,000 payment from WS Development is required under a development agreement and that bond authorization is permissive and may not reflect full bonding.
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At the meeting, staff briefed the Select Board on Articles 8 and 9, which would approve a district improvement financing (DIF) program and authorize up to $9 million in bonds to support the project. The town consultant (Kamoinge Associates) has been working on the DIF plan, and the board was reminded that $2,660,000 from WS Development is part of the financial picture under a development agreement.
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