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Subcommittee recommends approval of rental‑property special fund and creates farmers market revolving fund
Summary
The Finance Subcommittee recommended favorable action on adopting M.G.L. c.40 §3 authority for city‑owned rental and leased properties to be held in a special fund, and voted to establish a new revolving fund for the farmers market. Motions were made, seconded and carried by voice vote.
The Finance Subcommittee voted to recommend favorable action on two finance items on Jan. 28, 2025: adopting the provisions of Massachusetts General Laws chapter 40, section 3 for city rental and leased properties, and establishing a revolving fund to support the farmers market.
In presenting the first order, Jen Pratt summarized the intent: the M.G.L. c.40 §3 acceptance will allow the city to retain rental and lease revenue collected…
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