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Town to apply for local-match assistance tied to bridge investment program; staff says no match required for the assistance application
Summary
Town staff asked trustees to approve submitting a local-match-assistance grant application to support a likely $3,000,000 bridge project; staff said the assistance grant is intended to provide the local match and does not require a local match for this application and trustees approved submission.
Staff explained that the Bridal Investment Program (a state/federal bridge-investment funding opportunity) anticipates large grants and that the town would likely seek funding for a bridge project estimated at roughly $3,000,000. The program normally requires a 10% local match (about $300,000). Staff presented a companion local-match-assistance application intended to supply match funds and said "there is no match on this grant application as it is intended to provide a match," which prompted trustees to approve submitting the application.
Trustees asked procedural questions about how a future required match would be accounted for in the town budget, and staff responded that if a grant requiring a match is awarded after the budget is adopted, the town would typically address the match through a budget amendment and use the general fund if necessary.
