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Somerville creates Brick Bottom and Boynton Yards infrastructure stabilization funds totaling $1,147,839.81
Summary
The finance committee recommended creating two infrastructure stabilization funds — $763,814.81 for the Brick Bottom District and $384,025 for Boynton Yards — payments generated by development covenants to fund nearby public infrastructure projects.
The Somerville Finance Committee on Oct. 21 recommended approval to create two new infrastructure stabilization funds and accept developer‑sourced payments: $763,814.81 for a Brick Bottom Infrastructure Stabilization Fund and $384,025 for a Boynton Yards Infrastructure Stabilization Fund.
Alan Inacio of the Office of Strategic Planning and Community Development told the committee these payments have been triggered by covenant obligations in large development projects and the funds are intended to be spent primarily on public…
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