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Board committee advances $13 million Geneva Car Barn & Powerhouse renovation and tax‑credit financing package
Summary
The Budget & Finance Committee forwarded five linked measures to the full Board advancing renovation of the Geneva Car Barn & Powerhouse in District 11, approving acceptance of a $3.5 million state grant and authorizing tax‑credit financing and indemnities to support a phased redevelopment that uses new market and historic tax credits.
The Budget and Finance Committee voted to send to the full Board a five‑piece package that advances renovation of the long‑vacant Geneva Car Barn & Powerhouse in District 11.
Rec and Park officials, represented by Nicole Averill, described a phased approach that would first renovate the powerhouse (phase 1) and later the adjacent car barn. The department estimates total project costs at about $13 million, funded through a mix of sources that includes a proposed $3.5 million state grant, $2.7 million in general fund, $3.8 million in tax credits, $1.0…
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