On Wednesday September 15, 2010 at 6:30 pm at the Argenziano School, 290 Washington Street, the City of Somerville will hold a Public Hearing on a proposed District Improvement Financing “DIF” Plan that includes sections of Wards 1, 2, 3 and 5. Letters were sent to approximately 1,000 property owners just over 2 weeks ago and flyers have been posted in various parts of the city.
DIF is a financing tool that will enable the City to use new tax growth generated within the proposed DIF development district to acquire, construct, reconstruct, improve, preserve, alter, extend, operate, maintain and promote development within the development district, in order improve the quality of life, physical facilities and structures, and quality of pedestrian and vehicular traffic control and transportation, as well as increase and/or improve both affordable and market rate housing within the DIF development district.
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