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Council hears status of federal funding for Collins Road: $7.5M awarded but reimbursable; BUILD grant pending
Summary
Staff said the town was awarded a reimbursable Collins Road grant totaling $7.5 million (two awards: $6.5M and $1M) but has not yet received funds; the town also applied for a $22M BUILD grant with a June decision expected.
During audit Q&A, a council member asked whether federal money appropriated for Collins Road had been received and whether it appeared in the town's financial statements. Staff said the Collins award is a reimbursable grant: the town must spend eligible project costs first and then request reimbursement from the grantor. The town has been awarded $6.5 million and an additional $1 million (total $7.5 million) but has not yet received reimbursement payments.
Staff also said the town sought an additional $22 million through the federal BUILD grant program to fully fund Collins Road expansion and expected a decision in June. A separate congressional appropriation request of roughly $10 million was discussed; staff said approximately $1 million of that request was funded, not the full $10 million.
Staff noted that because no funds have been expended or received yet for the Collins project, the award does not appear as revenue in the current audited financial statements.
