HOPKINTON – Town Manager Norman Khumalo is pleased to report that the Town of Hopkinton has received the latest Host Community Agreement payment from the developers of Legacy Farms.
Baystone Development issued the Town a payment of about $1.7 million on June 30, 2021. The Town and the developers signed a Host Community Agreement in 2008, which provided impetus to the plan for a housing development on 700 acres on Route 135. The agreement requires Baystone Development to provide amenities and mitigations to the Town.
The most recent payment has been disbursed as follows:
- $1.2 million to the School Department Stabilization Fund
- $500,000 to defray the design costs of a new Public Safety Facility
The Town has received a total of $7.5 million from Baystone Development to date. The money has been disbursed as follows:
- $3,778,250 to the School Stabilization Fund
- $3 million for improvements in the Main Street Corridor Project
- $500,000 for design of a new Public Safety Building
- $240,000 for Public Safety impact mitigation
- $13,190 to continue studying the impact of Legacy Farms development on Town services
“The carefully-negotiated Host Community Agreement has allowed the developer to meet their goals while mitigating the impact on the Town of Hopkinton and its services,” Town Manager Khumalo said. “This partnership continues to be a net-positive for both the Town and Baystone Development.”
A final $753,050 payment to the School Department Stabilization Fund is due by Dec. 31, 2021.
Those interested in learning more about the Host Community Agreement may click here.