Chestnut Hill Square Developers Finding Partnership in State Program
The I-Cubed program would grant bonds for $15 million in infrastructure improvements around the site.
Developers of the proposed Chestnut Hill Square are looking for the neighboring Newton's cooperation in a state-funded program that would provide $15 million in infrastructure improvements to Route 9 and other nearby roadways. The Infrastructure Investment Incentive program, otherwise known as I-Cubed, involves the state issuing bonds to development projects that are eventually paid back through the sales and payroll taxes generated by the project. Representatives from the project's developer, New England Development, met with the Finance Committee Monday night to stress the importance of the bonds, and the need for the city's approval before moving forward with the application. "There is no way for us to do this project without having I-…
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