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Town receives funding update: 1888 Building budget $8.7 million; USDA split adjusted to 70/30
Summary
Town Administrator Christopher Dunne confirmed the project budget of $8.7 million, reported about $7.497 million committed to date and said the USDA funding split for the remainder of the project will shift from 50/50 to 70/30 in favor of the Town.
Town Administrator Christopher Dunne informed the Committee that the total project budget remains $8.7 million and that approximately $7.497 million has been committed to date, leaving over $1.2 million uncommitted.
Dunne also reported an adjustment to the USDA funding split for the remainder of the project, shifting from a 50/50 allocation to a 70/30 allocation in favor of the Town. Committee members did not record further action at the meeting, and Dunne said updated funding documents would be circulated.
