Update on 330 Cole Avenue

Post date: Nov 12, 2018 9:14:0 PM

Elton Ogden will be in to provide an update on the status of the project at 330 Cole Avenue. The project is continuing to move, with the greatest complexity being the overall financing package. Changes in the value of housing tax credits (a decrease), have prompted a need to revisit the funding approach that was originally planned.

Since 2017 the Town has been underway on a collaboration with Berkshire Housing to remidiate hazardous materials at 330 Cole Avenue. An EPA Brownfields grant was received in mid 2017 and through a procurement process that fall Fuss & O'Neil was brought on to act as the Town's project manager and Licensed Site Professional (LSP). Fuss in the winter of 2018 completed assessment and bid specifications for the clean up which was advertised in late spring. Unfortunately upon bid closing that summer only one bid was received which was significantly over the budgeted amount received from the EPA.

Noting the budget discrepancy the Town and Berkshire Housing decided a best course was to pursue phasing the project. Phase 1 as currently proposed is abatement and removal of the boiler room. This will allow the Town and Berkshire Housing to explore some issues in the basement of the remaining structure. The Town is currently seeking quotes from qualified contractors to complete this work.

Lastly, Berkshire Housing has an option renewable annually on the site. Given the progress on this project, I would request authorization again this year to extend the option for another year. The document below is the same renewal as last year with the dates changed to reflect an additional year.