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City reports $1.2 million DEED grant for Blackwater Banks infrastructure; total project nearly $5 million
Summary
Cohasset reported receiving a $1.2 million DEED grant to fund water, sewer and gas work at the Blackwater Banks project; staff said the city has already spent qualifying funds and will seek state reimbursements and structure developer incentives through Ehlers.
City staff told the council the Blackwater Banks project has qualified for a $1.2 million DEED grant to support water, sewer and gas infrastructure. The total project cost is nearly $5 million, and staff noted some parcels are subject to grant restrictions that could affect selling developed lots unless approvals or reimbursements are completed.
The minutes state the city has already spent well over the $1.2 million on qualifying infrastructure and that parcels east of Beier Road are not subject to the same grant restrictions. Financial Controller staff will work with Ehlers on structuring developer incentives such as tax abatements and will begin submitting for state reimbursements immediately.
