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IDA ratifies $2,500 contract with Storrs Associates for cost-benefit analysis
Summary
The IDA ratified a $2,500 agreement with Storrs Associates to produce an independent cost-benefit analysis for the Factory Town Apartments LLC project; the ratification was approved by voice vote before the board reviewed highlights of the analysis.
The IDA voted to ratify its engagement with Storrs Associates to perform a third-party cost-benefit analysis tied to the Factory Town Apartments LLC application.
IDA staff stated the contract amount was $2,500 and described the study as an objective third-party review similar to previous engagements. A motion to ratify the agreement was made and the board approved the ratification by voice vote.
The engagement produced an executive summary the board received and which staff summarized for members and the public prior to later votes on financial assistance.
