I was blissfully reading this letter in the Daily News, about the Little River development in Newbury, and is it good for the town, and yada, yada, yada.
Then I read this bit:
Newburyport is being offered $3.9 million (by the developers) in cash and infrastructure work, and is asking for more before allowing a connection to the city sewer and water. At $3.9 million it will be 8.9 years after the project is complete before Newbury nets the amount Newburyport is being offered up front. It is not clear what more Newburyport is looking for, but it could be too much.
I read it again, just to make sure I was reading it right. WHAT?! We get $3.9 mil in considerations out of this? And we want even more? Was this reported in the paper?
I know sometimes stories from the print edition don't make it to the online edition of the DN, so I'm just curious ...
3 comments:
I think the "considerations" is the work associated with connecting to the system or upgrades to handle the capacity - in other words, things that directly benefit the developer rather than the rate payers at large.
I agree with Bubba. I'm told the $4million essentially covers connecting the project to the city systems.
OK, thanks, both of you. I just hadn't heard anything of this. We should get more, don't you think?
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