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Advisory board backs larger Newtown CRA grant request, sends $250,000 recommendation to City Commission
Summary
The Newtown CRA Advisory Board voted March 11 to recommend the original $250,000 grant request for a redevelopment project to the City Commission after reviewing supplemental financial documentation and hearing debate over budget impact and project readiness.
The Newtown Community Redevelopment Agency Advisory Board voted March 11 to recommend that the City Commission consider increasing a previously awarded, conditional grant from $160,000 to $250,000 for a redevelopment project proposed by Margot Ventures.
The board’s action sends the applicant’s request and supporting materials to the City Commission for final approval; staff said the earliest available commission meeting for the board report is Feb. 17. The board carried the recommendation unanimously with the three members present.
Why it matters: The funding decision would allocate a significantly larger share of the CRA’s available redevelopment funds to a single project. Board members debated whether the larger grant would best advance redevelopment on…
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