Position Paper On Park Plaza Urban Renewal Proposal, Boston, Mass
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-17- GRANTS IN AID The Redevelopment Authority has advised that the total direct cost to the taxpayers in the form of grants in aid for acquisition of land and construction of new streets, demolition, legal and financing costs, and utilities will by $6.5 or $6.8 million.
However, under the proposed Cooperation Agreement between the ^ity of Boston and the BRA, the city agrees upon demand by the Authority to pay the /authority such additional grants in aid as may be necessary.
Further, the city h...as been advised by the Authority that all but $250,000 of that money will be recaptured from the developer as follows : -Land disposition $3,285,000 (Despite the fact that the Letter of Intent says that the developer may be obligated to pay only $2 million) -"Short term" repayment to the city $3,250,000 However, the Letter of Intent makes clear that the "short term" may be thirteen years -- and that even that obligation is subject to the availability of funds to make such payment after all operating costs, debt service and other payments to outside Boston Urban Associal lenders and investors.
What to read after Position Paper On Park Plaza Urban Renewal Proposal, Boston, Mass?
You can find similar books in the "Read Also" column, or choose other free books by Park Square Committee to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
-17- GRANTS IN AID The Redevelopment Authority has advised that the total direct cost to the taxpayers in the form of grants in aid for acquisition of land and construction of new streets, demolition, legal and financing costs, and utilities will by $6.5 or $6.8 million.
However, under the proposed Cooperation Agreement between the ^ity of Boston and the BRA, the city agrees upon demand by the Authority to pay the /authority such additional grants in aid as may be necessary.
Further, the city h...as been advised by the Authority that all but $250,000 of that money will be recaptured from the developer as follows : -Land disposition $3,285,000 (Despite the fact that the Letter of Intent says that the developer may be obligated to pay only $2 million) -"Short term" repayment to the city $3,250,000 However, the Letter of Intent makes clear that the "short term" may be thirteen years -- and that even that obligation is subject to the availability of funds to make such payment after all operating costs, debt service and other payments to outside Boston Urban Associal lenders and investors.
What to read after Position Paper On Park Plaza Urban Renewal Proposal, Boston, Mass?
You can find similar books in the "Read Also" column, or choose other free books by Park Square Committee to read onlineMoreLess
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