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Finance committee declines to back citizen proposal to seed offshore-wind stabilization fund
Summary
A citizen petition to create an offshore-wind stabilization fund—proposing up to $1,000,000 seed funding and possible future insurance premium payments—received extended debate but the committee voted to take no action after town counsel flagged legal and timing constraints. Proponents were encouraged to work with counsel to redraft.
The Finance Committee voted Feb. 19 to take no action on a citizen article (Article 36) that proposed creating an offshore-wind stabilization fund to pay for risk assessments, insurance premiums and response costs related to offshore-wind projects.
Proponents Amy Desibio and Val told the committee they wanted a funding mechanism—seeded initially by up to $1,000,000—to underwrite risk assessments and potentially insurance…
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