REVISED VOTE
The following, from Town Counsel John F. Maher, received Jan. 9, superseds the earlier memo and vote described below:
TOWN OF ARLINGTON
MASSACHUSETTS
REPORT OF THE
FINANCE COMMITTEE
AND
THE ARLINGTON REDEVELOPMENT BOARD
TO THE
ADJOURNED SPECIAL TOWN MEETING
MONDAY, JANUARY 14, 2002
Warrant Articles
Unless otherwise indicated, the following recommendations were by unanimous vote; exceptions are noted in parentheses following the text of the recommended vote. Under Finance Committee procedures, the Chairman votes only when the recommendation of the Committee will be affected.
ARTICLE 2: LAND ACQUISITION/SYMMES HOSPITAL
To see if the Town will vote to take any or all of the following actions:
1. To purchase, lease, or take by eminent domain, or otherwise acquire that property in the Town currently owned by Lahey Clinic and HealthSouth, that being the Site of the medical facility previously referred to as Symmes Hospital, and any or all of its adjacent land;
2. To authorize the appropriate Town Boards and officials to enter into development plans for the Site, including the renting of certain portions thereof;
3. To determine the jurisdiction of the Site;
4. To authorize the expenditure of funds for maintenance and necessary capital improvements but not major renovations as the latter were authorized by the May 5, 2001 debt exclusion vote since same will be dealt with at a future Town Meeting;
5. To authorize the hiring of consultants or the engaging of development partners;
6. To authorize land swaps with private developers;
7. To authorize the conveyance or sale of the property to an independent town authority or to take advantage of the provisions of M.G.L. Chapter 121A and/or 121B and by doing all things necessary to designate the property for recognition under M.G.L. Chapter 121A and/or 121B; by giving jurisdiction thereof to the Arlington Redevelopment Board and recognizing the authority of the Arlington Redevelopment Board to acquire the Site by eminent domain or otherwise;
8. To provide for a vehicle for amortizing the bond issue from the proceeds of any revenue generated by the development or redevelopment of the Site including a system of reducing the tax rate so as to repay taxpayers for amounts paid from bond issues outside the normal Proposition 2½ tax levy limit;
9. To designate certain of the Site as open space;
10. To amend the vote under Article 77 of the 2001 Annual Town Meeting establishing the Symmes Advisory Committee;
11. To file Home Rule legislation to accomplish any or all of the foregoing;
12. To appropriate a sum of money to accomplish any or all of the foregoing; to determine how the money will be raised and expended including the possibility of borrowing all or any portion thereof; or take any action related thereto.
(Inserted by the Board of Selectmen and at the request of the
Symmes Advisory Committee)
VOTED:
THE ARLINGTON REDEVELOPMENT BOARD RECOMMENDS THE PASSAGE OF THE FOLLOWING VOTE. (Section A to be voted before Section B).
Section A. The Town pursuant to Section 17 of the Town Manager Act and Chapter 121B of
the General Laws, as applicable, hereby votes to: (i) approve the following Urban Renewal Plan which has been duly adopted by the Arlington Redevelopment Board and has been found by said Board, acting in its capacity of the Planning Board, to be based upon a local survey and to conform to Arlington's comprehensive plan as a whole; and (ii) to authorize the Board of Selectmen and Town Manager to enter into a Cooperation Agreement with the Arlington Redevelopment Board on behalf of the Town pursuant to Sections 20, 23, and other applicable provisions of the Massachusetts General Laws Chapter 121B, providing for certain funding for said Board and otherwise accomplishing the tasks authorized by the succeeding vote (Section B), a draft of which is attached.
SYMMES, ARLINGTON, CONSERVATION AND IMPROVEMENT PROJECT
ARLINGTON, MASSACHUSETTS, URBAN RENEWAL PLAN
I. Description of Project Area Boundaries
The Symmes, Arlington, Conservation and Improvement Project, located in the Town of Arlington, County of Middlesex, Commonwealth of Massachusetts, is bounded generally as follows:
The boundaries are outlined in the boundary description and on the Property Map, Exhibit III.
Beginning at a point in the northeast line of Summer Street, running thence
N 4045 00” W by Summer Street, 416.9 feet; thence
NORTHWESTERLY by Summer Street by a curve to the right with a radius of
253.11 feet a distance of 89.31 feet to the end of a stone wall; thence
N 49 00 55” E by land of Charlson and land of White, 143.78 feet; thence
N 47 39 40” E by land of said White, 115.16 feet, these last two bounds being by a
stone wall; thence
N 47 23 07” E by land of Adams and Farren, 114.52 feet; thence
NORTHEASTERLY by lands of Harrison, Miller, Stefanidakas, Murray, Morse,
Diminico, Sheahan, Cox and Regan, and the end of Millet Street, and lands of
Haller, Miller, Roberts and Learnard, in part by a stone wall, 870 feet; thence
SOUTHEASTERLY by land of Alden, 123.30 feet; thence
SOUTHEASTERLY, but more southerly, by land of Alden, Bouvier, Carny, said
Alden and Graziano, by a stone wall, 369.93 feet; thence
N 51 46 18” E by the Graziano land, 68.82 feet; thence
S 38°13 42” E by Brattle Street, 123.93 feet; thence
S 46°10 41” W by land of Ringler, 58.96 feet; thence
SOUTHWESTERLY by lands of said Ringler, Wright, Giolito, Gotz, Agostino, Wall and
Reichenbach, 575.35 feet; thence
S 31°45 16” E by land of Bartlett, 183.98 feet, thence
S 34° 04 12” W by lands of Schneider, Harrington and McClure, 233.63 feet; thence
S 62°53 49” W by lands of Pochini, Albano, Brown and Donovan, 270.13 feet; thence
N 79°13 30” W by land of said Donovan and land of Fieldheim and Snyder. 52.00 feet;
thence
N 37°48 24” W by lands of Griffin and Macone, 137.70 feet; thence
S 49°15 00” W by land of said Macone, 182.00 feet to the point of beginning.
Said parcel containing, according to the plan, a total area of 18.1 acres, more or less.
II. PROJECT PROVISIONS
A. Objectives of the Plan
1. To eliminate by renewal action, conditions of blight and deterioration found to exist in the project area.
2. To maintain existing property value and encourage appropriate new investment in the Symmes Arlington Conservation and Improvement Project.
3. To increase the tax base of the Town without creating a burden on the streets, utilities, neighboring land uses and other public facilities.
4. To encourage more appropriate use of project area land through proper land use planning techniques by providing incentives in the private market for development in a manner which succeeds in fulfilling the goals and the objectives of the Town.
5. To achieve compatibility between the development or rehabilitation of existing uses and new uses and the needs of adjacent low-density residential neighborhoods to achieve a quiet protected residential atmosphere.
6. To coordinate new development in the Symmes Arlington Conservation and Improvement Project with existing and proposed public and semipublic land uses
7. To improve the visual appearance of the Site by following the design review process in the Zoning Bylaw and design criteria established by the ARB, and upgrade traffic flow to and from the Site without further impacting land abutting the roadways.
8. To provide an effective attractive and convenient open space network around and within the Site to enhance the development proposed for the Site.
9. To enhance the marketability and to promote the development of underutilized land in the Project Area by acquiring the Site, by preparing a master action plan and by creating rational disposition parcels for private development.
10. To provide housing opportunities to take advantage of the many amenities of the Site which are prerequisites for successful residential development.
11. To remove or rehabilitate obsolete, substandard or deteriorated buildings that are factors in spreading blight and deterioration in order to maintain abutting property values and enhance full development of the Project Area.
B. Applicability of Local Codes and Bylaws
All redevelopment to take place in the Symmes Arlington Conservation and Improvement Project will be subject to all codes, bylaws, and regulations applicable to the Town of Arlington and the provisions which are more restrictive shall govern.
C. Land Use Proposals.
It is the intent of the plan to promote the conservation and improvement of the existing buildings within the project area by encouraging the renovation and rehabilitation of existing structures for commercial, office, residential and public uses.
D. Development Controls Applicable to All Parcels
The Zoning Bylaw of the Town of Arlington as amended (including the provisions therein for special permits and variances but not including provisions for nonconforming uses) will control all use and development in the Symmes Arlington Conservation and Improvement Project. The bylaw in effect on this date as same may be amended is attached as Exhibit I to this Plan.
E. Development Controls Applicable to Individual Reuse Parcels
The Redevelopment Board will obligate purchasers or lessees of parcels to be disposed of in the project area and their successors and assigns to the conditions as set forth below and will provide for enforcement of these conditions by the Board in the event of default.
III. PROJECT PROPOSALS
A. Land Acquisition
The parcel within the boundaries of the Symmes Arlington Conservation Improvement Project is to be acquired for the purposes of rehabilitation, possible clearance and redevelopment.
B. Effective Period of the Plan
This plan shall be in full force and effect for a period of twenty (20) years from the date of approval by the Town of Arlington; provided, however, that the provisions of paragraph III, D, 4 shall remain in effect for a period of one hundred (100) years from the date of the approval of this Plan.
C. Priorities to Purchase and/or Lease Project Land
There are no priorities to purchase and/or lease project land for development.
D. Obligations to be Imposed on Redevelopers
The Board shall obligate purchasers and redevelopers of land acquired by the Board in the project area and their successors and assigns by covenants and conditions running with the land or other appropriate means to the following provisions, subject further to reasonable actions actions by the Board in the event that such purchasers and redevelopers fail to meet the requirements of this Plan.
1. Approved Land Use
To use, develop and maintain such land together with improvements thereon only for the purposes and in the manner set forth in this Plan, as said Plan may be modified from time to time in accordance with Paragraph VI hereof.
2. Submission of Plans
To submit to the Board, Site, architectural, and landscaping plans and specifications, including but not limited to, parking, loading, curb cuts, landscaping, screening, and sign proposals, as well as any other information as may be necessary for the approval to ensure conformity with provisions and objectives of this Plan. All proposals shall be subject to the approval of the Board.
3. Commencement and Completion of Construction
To commence and complete all improvements within the time fixed by the Board.
4. Restrictive Covenants
No covenant, agreement, contract, lease, conveyance, or other instrument shall be effected or executed by the Board, or by developers, purchasers, or lessees of any part or parcel of land within the project area, or their successors in interest, contractors, lessees, sublessees, or assigns, whereby the disposition of any rights, title, or interest, in whole or in part in such land shall be restricted because of race, color, religious creed, national origin, sex, age, ancestry, or marital status. Every covenant, agreement, contract, lease, conveyance, or other instrument by which any part of parcel of land within the project area is disposed of or by which its improvement is provided for shall include an affirmative covenant which shall obligate and bind each developer, contractor, purchaser, lessee, grantee, or other
party to such instrument, or any successors in interest, so that there shall be no discrimination because of race, color, religious creed, national origin, sex, age, ancestry, or marital status, in the sale, lease, or rental, or in the employment on, or in the use, occupancy, or possession of such land or of any improvements constructed or to be constructed thereon.
5. Holding of Land for Speculative Purposes
To comply with the terms and conditions specified by the Board to prevent holding of land for speculative purposes.
6. Use and Maintenance of Land
To comply with such terms and conditions relating to the use and maintenance of such land and improvements thereon as, in the opinion of the Board, are necessary to carry out the purposes and objectives of this Plan.
7. Construction of Buildings
To ensure that no building or structure shall be erected, reconstructed, enlarged, or moved for any use other than that which is permitted herein or in such manner as to violate any of the regulations and controls specified herein. Redevelopers who wish to modify the exterior of buildings, construct additional buildings or enlarge existing buildings shall submit plans for such improvements to the Board, if it is in existence, for its approval in accordance with Paragraph III, D, 2.
8. Conformance with All Town Bylaws
To ensure that construction and reconstruction of all structures shall conform to all pertinent regulations, bylaws, and codes of the Town as are in effect from time to time. Notwithstanding any lesser requirements in the provisions of said regulations, bylaws and codes, the land use controls and building requirements set forth in this Plan shall apply to the project areas and shall be implemented by appropriate provisions in documents for the disposition of property in the Project Area.
9. Transfer of Property
To obtain the consent of the Board for the transfer of property prior to the completion of the agreed improvements.
IV. SPECIAL CONDITIONS
Properties designated to be demolished may be exempt from demolition where it is demonstrated that such buildings can be rehabilitated in accordance with pertinent regulations, bylaws and codes of the Town, and where it is determined by the ARB that such exemption (1) shall in no way interfere with the objectives and intent of the Plan regarding circulation, parking, loading, pedestrian circulation, open space, general amenity, and marketability; and (2) shall be in conformance with all other requirements of the Plan.
V. OTHER PROVISIONS NECESSARY TO MEET STATE REQUIREMENTS
There are no families or individuals who occupy residential property in the project area and who are to be displaced by this project; therefore, no families or individuals will require residential relocation assistance. The Purchase and Sale Agreement and the Lease Back Provision executed by the Town with the owner of the property contains specific provisions under which the current owner waives all relocation rights under Chapter 79A. Therefore, there is no relocation plan required for the implementation of this project.
VI. PROCEDURE FOR CHANGES IN THE APPROVED PLAN
This Plan may be modified at any time by the Board in accordance with applicable state law and Massachusetts Department of Housing and Community Development
(“ DHCD”) regulations. Whenever proposed modifications of this Plan will substantially or materially alter or change this Plan, the proposed modifications shall be approved by the Selectmen of the Town, the Town Meeting, and by the Massachusetts Department of Housing and Community Development.
VII. CONFORMITY TO GENERAL PLAN
The Urban Renewal Plan is based on a local survey, and is in conformity with a comprehensive plan for the Town of Arlington as a whole. Proposed urban renewal actions and the renewal and redevelopment of the project area are necessary for the continued proper development of the community and are related to definite local objectives as set forth in paragraph II, A of this Plan, and would not be accomplished through the ordinary operation of private enterprise.
VIII. SEPARABILITY
Should any section, paragraph, or provision of this Plan be determined to be unconstitutional or invalid, such determination shall not affect the whole or any part
The whole or any part thereof other than the part so determined to be unconstitutional or invalid.
Copies of supporting documents justifying the Plan and its proposed actions are on file in the office of the Town s Department of Planning and Community Development.
THE FINANCE COMMITTEE RECOMMENDS THE PASSAGE OF THE FOLLOWING VOTE.
Section B. That the Town does hereby authorize the Arlington Redevelopment Board (the “Board”) to purchase, with funds provided by the Town, that property in the Town located on Hospital Road as more particularly described in a purchase and sale agreement (the “Agreement”) dated December 17, 2001 between the Town acting by and through its Board of Selectmen and Lahey/Advantage General Partnership (the “Site”) for urban renewal and/or other general municipal purposes and to take such other actions of the Town called for in the Agreement; and the Town further votes to assign its rights and obligations under the Agreement to the Board, which Agreement includes, among other provisions, a lease back provision which is part of the purchase transaction the business terms of
which are set forth in an addendum to the Agreement and which lease is for a maximum term of ten years; and further voted that the jurisdiction of the Site shall be under the control of the Arlington Redevelopment Board and that the Town hereby appropriates the sum of 14 Million Dollars ($14,000,000.00) in order to fund the purchase amount of 7.1 Million Dollars ($7,100,000.00) with the balance of the monies to be expended for the development, operation, maintenance, and planning for the Site (but not for major renovation as authorized by the debt exclusion vote of March 31, 2001 except as required by a make ready for occupancy allowance for Lahey Clinic in the maximum amount of $37,500 as set forth in said Agreement) as an urban renewal project, including without limitation the hiring of consultants including planning, legal, architectural and other services and to reimburse accounts from which expenditures of this kind have already been made; and that the Town Counsel is
requested and directed to draft home rule legislation for consideration at a future Town Meeting that would enable and authorize the Town (1) to utilize revenues generated from the Site after the amortization of indebtedness voted under this or subsequent articles which may be needed for renovation or other development costs so as to reduce the tax rate in an amount sufficient to offset and reduce property taxes so as to reimburse taxpayers for taxes levied to support the project and (2) to take all other actions necessary to finance and carry out the project; and for these purposes the Town Treasurer with the approval of the Board of Selectmen is authorized to borrow a sum not to exceed 14 Million Dollars under and pursuant to Chapter 44, and/or Chapter 121B of the General Laws, or any other enabling authority, and to issue bonds and notes of the Town therefore, all funds to be expended under the direction of the Redevelopment Board, however, the Redevelopment Board is encouraged
to enter into an agreement with the Symmes Advisory Committee that would facilitate the giving of advice by said Committee to the Redevelopment Board consistent with the charge given said Committee under Article 77 of the 2001 Annual Town Meeting and $300,000 of the requested amount is set aside for retaining consultants and other experts and other expenses in connection with such advice; and further voted that the vote under Article 77 of the 2001 Annual Town Meeting, which established the Symmes Advisory Committee, be and hereby is amended by striking the words, “2002 Annual Town Meeting or such intervening Special Town Meeting if such recommendations are available, “ and substituting therefore the following: “a 2003 Annual Town Meeting or an earlier Special Town Meeting if such recommendations are available except that said committee will provide updates on its work to all future town meetings held preceding the Town Meeting at which it makes its final
recommendations,” said amendment being for the purpose of removing the requirement that said committee must report its recommendations to the 2002 Annual Town Meeting. The provisions of this Section B above are expressly contingent upon the approval of the Urban Renewal Plan by the Department of Housing and Community Development, Division of Municipal Development, and without such approval the provisions of Section B above are null and void and without effect ab initio. (17 2).
Comment of the Finance Committee: This will be one of the most important issues to come before the Town Meeting in many years. The Symmes property is the most visible and one of the largest single parcels in the Town. Its development will have a lasting impact, either positively or negatively, on our community for many years.
The Finance Committee has been closely following this issue since last spring when the voters overwhelmingly voted to raise their taxes to purchase this property. Two members of the
Finance Committee have been appointed to serve on the Symmes Advisory Committee. Over the last month, the Finance Committee has reviewed numerous studies prepared on this issue and has had two full nights of hearings on the Symmes acquisition proposal which is now before you.
The $14,000,000, which is being proposed, will be expended approximately as follows:
$7,100,000 purchase of the property
6,000,000 operating costs for four years
300,000 professional planning process
leading to the development of the Symmes Plan
50,000 removal of debris required by the
Purchase and Sale Agreement
150,000 legal fees
50,000 bonding costs
350,000 contingency
The Finance Committee anticipates the following course of action. The Town will borrow approximately $9,000,000 of this appropriation on a short-term basis with a bond anticipation note at a rate of about 3% with a cost to the taxpayer of $270,000 for interest expense in fiscal 2003. This would represent a tax increase of .46 %. If the planning process is not complete when the note comes due next year, the Town would roll the bond anticipation note over for another year and add $1,500,000 for operating costs for a total of $10,500,000. This would cost the taxpayer $315,000 at 3% in fiscal 2004. This would continue until the planning process was complete, the disposition of the property determined, whether by sale, lease, transfer or other appropriate action, and
upon necessary action of the Town Meeting in regard to zoning changes to permit disposition or approval of any necessary changes in the Urban Renewal Plan and action of other responsible Town organizations, and the retirement or servicing of any BANs or Bonds is funded by the disposition of the parcel and any tax revenues or other revenues generated by the future use of the property. The rate of retirement of the bond anticipation note or bonds and the pay back to the taxpayer would of course depend on the form of disposition and amount of funds generated, and the property taxes or other revenues generated by the ensuing development.
-------------------------------------------------------------------------------------------------------------------------
MEMORANDUM
TO: Arlington Town Meeting members
FROM: John F. Maher, town counsel
DATE: Jan. 3, 2002
RE: Proposed Vote and Informational Hearing
Enclosed for your review is the latest draft of the proposed main motion on the acquisition of the Symmes site as approved by the Finance Committee on January 2nd by a vote of 16 to 2 in favor. This vote may undergo minor variations before being finally presented to you on January 14th when the Town Meeting reconvenes. You will note that the vote is in two parts. Section A deals with the approval of the acquisition and lease and such other matters as temporary jurisdiction in the Redevelopment Board, certain provisions regarding planning for future uses of the site and authorization for bonding. Next week you will receive a proposed vote under Section B, which will be provided by the Redevelopment Board, and will deal with the urban renewal component of the process. That vote
will propose approval of an urban renewal plan, which is slated to be adopted by the Arlington Redevelopment Board on January 7th. The adoption of an urban renewal plan makes possible the bonding of operating and planning expenses for the site so as not to impact operating budgets of the Town.
Given the complexity of the matter, the Board of Selectmen has determined that it might prove helpful to Town Meeting members to conduct an informational hearing at which Town Meeting members may pose questions to Town officials concerning the proposed acquisition. Although we would expect that many of these questions will be answered by the presentation by various officials to be given at the beginning of the January 14th meeting, we believe that such a hearing would nonetheless contribute to a better understanding for Town Meeting members of the complex issues involved. The hearing will be held at 8:00 p.m. on Wednesday, January 9th in the Town Hall and will be presided over by Town Moderator, John Worden. The Selectmen invite each and every Town Meeting member to attend and
pose whatever questions you may have. The hearing will be devoted to questions and answers only and will not involve any presentations as such. The hearing will be informal. It is not intended that the various issues be debated, but rather we see this as an opportunity to respond to questions so that debate on Monday, January 14th can be facilitated.
cc: Board of Selectmen, Finance Committee, Symmes Advisory Committee, Arlington Redevelopment Board, Town Manager, Director of Planning, Town Treasurer
Draft, main motion, Symmes article
VOTED:
A. That the Town does hereby authorize the Selectmen to purchase that property in the Town located on Hospital Road as more particularly described in a purchase and sale agreement dated December 17, 2001 between the Town acting by and through its Board of Selectmen and Lahey/Advantage General Partnership for urban renewal and/or other general municipal purposes; and the Town further votes to authorize a lease back provision which is part of the purchase transaction the business terms of which are set forth in a addendum to the purchase and sale agreement and which lease is for a maximum term of ten years; and further voted that the jurisdiction of this property shall be under the control of the
Arlington Redevelopment Board until such time as a further vote is passed and becomes effective at the 2002 Annual Town Meeting or a Special or Annual Town Meeting held prior to or subsequent to the 2002 Annual Town Meeting, and that the Town hereby appropriates the sum of 14 Million Dollars ($14,000,000.00) in order to fund the purchase amount of 7.1 Million Dollars ($7,100,000.00) with the balance of the monies to be expended for the development, operation, maintenance, and planning for the site as an urban renewal project or otherwise, including without limitation the hiring of consultants including planning, legal, architectural and other services and to reimburse accounts from which expenditures of this kind have already been made; and that the Town Counsel is requested and directed to draft home rule legislation for consideration at a future Town Meeting that would enable and authorize the Town (1) to utilize revenues generated from the site after the amortization of
indebtedness voted under this or subsequent articles which may be needed for renovation or other development costs so as to reduce the tax rate in an amount sufficient to offset and reduce property taxes so as to reimburse taxpayers for taxes levied to support the project and (2) to take all other actions necessary to finance and carry out the project: and for these purposes the Town Treasurer with the approval of the Board of Selectmen is authorized to borrow a sum not to exceed 14 Million Dollars under and pursuant to Chapter 44, and/or Chapter 121B of the General Laws, or any other enabling authority. and to issue bonds and notes of the Town therefore, said sums for the purchase to be expended under the direction of the Selectmen, all other funds to be expended under the direction of the Redevelopment Board except that the expenditures of any funds for consultant services and Symmes Advisory Committee administrative expenses shall be subject to the direction and approval~ of the
Symmes Advisory Committee, said committee shall have overall direction over the consultants utilized, and provided further such expenditure by the Redevelopment Board is expressly contingent upon the Arlington Redevelopment Board entering into an agreement with said Committee pursuant to Section 50 of Massachusetts General Laws Chapter 121B that will authorize said committee to undertake the task of being that Town agency principally responsible for planning for future uses on the site, so as to enable it to give advice to the Redevelopment Board, the Selectmen, the Town Manager and Town Meeting; and further voted that the vote under Article 77 of the 2001 Annual Town Meeting, which established the Symmes Advisory Committee, be and hereby is amended by striking the words, “2002 Annual Town Meeting or such intervening Special Town Meeting if such recommendations are available,” and substituting therefore the following: “the 2003 Annual Town Meeting or an earlier
Special Town Meeting if such recommendations are available except that said committee will provide updates on its work to all future town meetings held preceding the Town Meeting at which it makes its formal recommendations,” said amendment being for the purpose of removing the requirement that said committee must report its recommendations to the 2002 Annual Town Meeting.
B. Furthermore, the Town votes pursuant to Section 17 of the Town Manager Act and Chapter 121B of the General Laws, as applicable, to adopt the Urban Renewal Plan and authorize the Board of Selectmen and Town Manager to enter into an agreement with the Arlington Redevelopment Board pursuant to Sections 20, 23, and other applicable provisions of the Massachusetts General Laws Chapter 121B which will provide, inter alia, for a budget of proposed expenditures by the Redevelopment Board which will be subject to the approval of the Board of Selectmen and further the Redevelopment Board shall give quarterly financial reports to the Finance Committee, Board of
Selectmen and Town Manager.
(Insert Plan).
| 
