Predevelopment funding available; B Noble to run predevelopment training and studies
Commission heard that B Noble has up to $400,000 to cover predevelopment work for housing projects and that individual predevelopment studies are roughly $50,000; members said the predevelopment funding reduces near-term financial risk for the commission.
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Commissioners were told B Noble (the hub partner) has grant funds available — reported at roughly $400,000 — to cover predevelopment work and training for local projects, including the town’s interest in a housing development tied to John McGill. Staff and counsel said predevelopment work is expected to cost about $50,000 per project and that the hub’s grant reduces near-term risk to the commission.
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