The City Council’s Finance Committee transferred funds to finance city procedures, including the purchase of property for the Riverwalk Project, at its latest meeting.
Ward 2 Councilor and Finance Committee Chair Peter McGinn listed off the items, beginning with the approval for the transfer of $185,000 for the purchase of 166R Main Street from the city’s real-estate accounts.
The purchase of this property was originally proposed by Mayor Ted Bettencourt at the beginning of October. It is part of the long-term Riverwalk Project.
“At the time I presented it would be paid through two sources, one was a $450,000 block grant, and then the remaining $185,000 would be paid through the sale and purchase of a real-estate account,” Bettencourt explained at last Thursday’s meeting.
He added that this acquisition is an important step in the project as a whole, as this property is one of the five key parcels of land that are integral to the development.
The committee also approved the transfer of funds in the amounts of $33,500 and $6,855 for restoration to the Douty and Emerson cemeteries, respectively. The funds will be used to provide fencing for both locations.
The Finance Committee unanimously approved these items, which were brought to the City Council by McGinn shortly thereafter. The council voted unanimously in favor as well.
