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Council approves $2.5 million in emergency support for Neville Center; debate over bank terms
Summary
The City Council approved $2.5 million in two appropriations to support refinancing and capital work at Neville Center, a nonprofit assisted-living facility; the vote followed council discussion about interest paid to the bank and whether state or other lenders had been pursued.
The Cambridge City Council on Jan. 27 approved two appropriations totaling $2.5 million to support refinancing and capital improvements at Neville Center, an assisted-living facility serving low- and moderate-income residents.
Votes
- $1.5 million (General Fund, other ordinary maintenance) to support refinancing and loan-related obligations: approved 8-1. - $1.0 million (General Fund, capital/extraordinary expenditures) for capital improvements (roof and facility repairs): approved 9-0.
Councilors and public speakers debated whether the city should direct…
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