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Trustees back staff pursuit of state funding for Southwest Promenade housing while seeking broader financing plan for full town‑center buildout
Summary
Trustees directed staff to pursue imminent funding opportunities for an eight‑unit Southwest Promenade ownership project (including two town‑owned units) while also directing staff to continue exploring financing strategies for the wider Sixth Street / town‑center site.
At a lengthy discussion March 12, the Board of Trustees approved staff moving forward with funding applications for the proposed Southwest Promenade ownership project while also asking town staff to pursue a broader financing strategy for the entire town‑center campus.
Consultant Andrew (project lead) told trustees that new state programs and a revived community revitalization tax credit (CRTC) create near‑term opportunities to fund a smaller ownership phase on the southwest portion of the town‑center site. Under the plan discussed, a mixed‑use building would contain eight for‑sale units and a small commercial…
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