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Bellingham seeks consultant to pursue district financing to close $1.8M Hartford Ave funding gap
Summary
The Select Board authorized staff to retain a consultant to design a Development (District) Improvement Financing program after staff reported Hartford Ave construction estimates at about $13.33 million and a project funding shortfall of roughly $1.8 million; WS Development is contributing $9,400 toward the consultant work.
Town staff told the Select Board on June 15 that the Hartford Avenue improvement project faces an estimated construction cost of about $13,333,000 and currently shows a funding shortfall of approximately $1.8 million. To try to close the gap, staff recommended the town contract a consultant to prepare a Development (District) Improvement Financing (DIF) program and the associated documents required for town meeting consideration.
The board heard that the proposed DIF would allow the municipality to capture incremental tax revenue from private reinvestment in a defined development district and direct that incremental revenue toward public improvements in the project area. Staff said this is not a new tax or an additional assessment on current residents, but a mechanism to redirect growth in property tax revenue from redevelopment to pay for public infrastructure.
The contract before the board would authorize a consultant (Komoy, as listed in the packet) to complete scope-of-work tasks and deliver DIF documents within a roughly two-month timeline. Staff proposed an August presentation of preliminary findings and said the most accelerated timeline could allow the Select Board to open a warrant for a special town meeting in late September. WS Development has offered $9,400 to support the consultant work; additional funding and structure decisions would follow the consultant's analysis.
Board members and staff discussed district boundaries, residential frontage inclusion, and options to amend or expand districts in future town meetings. Staff cautioned that bids have already been received for the Hartford Ave construction and that cancelling the project could increase costs; the consultant's work was framed as an effort to present a viable financing structure to state and private partners.
The board voted to authorize the town administrator to execute the consultant agreement and directed staff to bring back the consultant's presentation in August.
