“Most state programs want to see some sort of match,” Fahey said. “Certainly the fact that Amesbury has voted the $5.9 million to move the DPW indicates a strong commitment to the project, but the reality is, yes, it will be necessary to make some significant commitments of local funds.”
In the case of the PARC grant, Amesbury was required to spend at least $625,000 in order to receive a 64 percent reimbursement in the form of the $400,000 grant. According to Mayor Thatcher Kezer, the remaining $225,000 will be paid for out of the city’s economic development stabilization fund.
But looking ahead to future expenses, including the portion of the $1.2 million Water Street realignment project that isn’t covered by state funds, Amesbury will need to find other funding avenues. Some possibilities could include the city’s free cash account, long-term bonds or even future tax increases.
How big a commitment will be necessary won’t be clear until later, but Kezer indicated that how the leftover funds will be dealt with is going to depend on the amount of state funds that Amesbury receives and their timing within the Fiscal Year.