Seminole Development clarifies financing for Cobble Hill Crossing Project

The Lincoln Town Council held a work session on April 14, 2025, focusing on the Cobble Hill Crossing Project and its financing details. The meeting primarily addressed the funding structure for the development, which is being managed by Seminole Development, LLC.

During the session, council members discussed a letter from Seminole Development indicating that the company plans to use its cash reserves to complete the project. This means that no external financing will be necessary for construction costs. The council noted that the funds discussed in the meeting would likely serve as a reimbursement grant rather than upfront financing.

Further clarification on the funding arrangement was deemed necessary, with council members agreeing to review the details before making any decisions. The discussion highlighted the importance of understanding the financial implications of the project for the town.

Overall, the meeting underscored the council's commitment to ensuring that the Cobble Hill Crossing Project is financially sound and aligns with the town's development goals. The council plans to revisit the topic in future sessions to finalize the details.