I-Cubed Funding - Vote NO
The I-Cubed funding will be presented to the FinCom a day before the annual town elections. Why is the town waiting so long to put that article on? Could it be the town wants to make sure the library gets funded before talking about the I-Cubed funding? Could it be that the less people that know about the I-Cubed funding would mean a smaller town meeting? I can only guess because the town doesn't like being very transparent. I believe Mike [Jaillett] said last night at the Government Study Task Force meeting that we will be lucky if 200 residents show up for this town meeting. If only 200 residents showed up then it would be easy to stack the deck for any article vote. For the residents that do not feel we should risk 6 million dollars maybe you should try to make this town meeting.
CC&F is getting 55 million dollars from the state and wants to ask the town to accept the I-Cube for 6 million. Who is paying for this project the state the town or CC&F? My question is does CC&F have funding yet? The town wants us to vote on 6 million dollar I-Cubed funding and I have not heard that CC&F has the funding to make this project a go. Let's do some quick math. New Library 13 million, the possibility of being on the hook for 6 million for I-Cubed funding and the very strong possibility for a large operational override next year. Let's take care of our own backyard and let CC&F do the same. I may have some leaves on my lawn from last year but CC&F has 140 acres of overgrown weeds which I would rather not be a part of.
Comments
on the hook for 6 mil?
I hear your concern... I'd like to understand exactly how we are on the hook for 6 million. I recall talk about the town being responsible for the 6 million debt if the project did not raise a certain amount of tax revenue (or was it a certain employment level?). However, more recently I thought I read that was not the case.... that Westwood could pursue requiring CC&F having monetary reserves to ensure the repayment of the I-Cube financing if tax revenues fell short of the state's requirements.
In any case, I don't feel comfortable that the facts of this I-Cube program have not been provided to the town's residents to date.... if they were, then I'd feel better about voicing my opinion on Westwood Station... we need to understand the fiscal risks (if any at all) we're facing if the town accepts the I-Cube financing.
I don't trust CC&F
I believe CC&F for fiscal year 2011 was suppose to pay the town 2.4 million and that was waived by the BOS. When I ran for planning board Steve Rafsky told me that the town is protected but still we never received the 2.4 million. This year they will receive 55 million from the state and maybe 6 million in I-Cube funding but we are suppose to get only 500,000 if a shovel goes in the dirt? How did 2.4 million end up being 500,000? The bottom line is I don't trust CC&F.
The town officials do not want to be transparent when it comes to Westwood Station. The town was promised one thing and every day it changes when it comes to Westwood Station. So what are we really getting, does anyone know, do our town officials know? If our town officials want us to vote yes on the I-Cube then they should be making every effort to let the residents know what's really going on when it comes to Westwood Station. This project changes like the wind.
I-Cubed Needs Further Discussion
As mentioned on the blog previously, I attended a fincom meeting last year and I-Cubed was discussed. Phil Shapiro addressed the board and began the process. There were a lot of questions and I remember fincom members being very hesitant of the idea. One member mentioned that the idea sounded like the town would be carrying the debt for the developer and that was something our town would not look favorable upon. Maybe that has changed. But it sounded then like a VERY SERIOUS undertaking and one that needed a lot of clarification. I did wonder if the town downplayed it as well until the library vote had passed. Why was it not addressed at the same meeting? Here is a link to an article from the Transcript last year regarding I-Cubed.
Again I would love it if someone from the town could address the topic here on the blog. But we shall see. Maybe the developer could as well. Mr. Doherty has posted here previously.
http://www.dailynewstranscript.com/news/x1739334366/Westwood-takes-look-...
Fincom 3/15
From the FinCom minutes from 3/15 meeting:
"Participation in the I-Cubed State funding program will not be pursued at the upcoming annual town meeting, since a revised project plan has not been presented."
correction
CC&F doesn't actually "receive" anything from the State. The $55M is the cost of regional roadway and infrastructure improvements that have been planned by the State for over a decade, and were assigned to CC&F during their permitting process. The State will now be building those public ways as they promised. The $55M is just how much the work costs.
Obviously, a "no" vote turning down anything like this just prolongs our Town's ability to get the tax revenue we need to move on. Personally, I'd prefer not to cut off my nose to spite my face. It's a wasteland out there, and the fact that this project could get started in the midst of 10% unemployment is great news. To me at least.
JD
Correction to your Correction
Boston Herald
The state is willing to spend up to $55 million for infrastructure improvements that could jump-start the controversial $1.5 billion Westwood Station complex.
In a letter sent Tuesday, the state’s Executive Office of Housing and Economic Development agreed to provide up to $19 million for the construction of Westwood Station Boulevard and for changes to the intersection of Canton Street and University Avenue.
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So the construction for Westwood Station Boulevard and the Intersection of Canton Street and University Avenue is being picked up by the State. These are not roadways the state is responsible in constructing. So patridge I love that you blog but before you write correction to my comments make sure you know what your talking about first. That 55 million is a gift from the state to kick start this project and it saves CC&F 55 million dollars. If you notice I put my name behind what I have to say and if I am incorrect I have no problem saying that I am wrong. When you are not willing to put your name behind what you have to say then I question who is really blogging about this topic.
Westwood Station to get state
Westwood Station to get state boost
January 21, 2010 05:04 PM E-mail| |Comments (4)| Text size – +
By Casey Ross, Globe Staff
Governor Deval Patrick's administration will spend up to $55 million on public works improvements to jump start construction of Westwood Station, one of the region's largest and most controversial private developments near the heavily-traveled interesection of Interstates 93 and 95.
The funding will finance a new exit off I-95 as well as a local road into the development site,
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Patridge what is going to be the NET positive in taxes to the town now? The project keeps changing. It may cost the town more to maintain and service then what we receive in taxes. Have you heard of anything else being built besides Wegmans and Target? You can call it biting your nose to spite your face. I call it being careful before taking a large leap into the unknown.