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The Warrant Committee approved its Belmont Center Overlay District fiscal analysis report by a 15-0-2 vote, with editorial changes allowed. The report says projected fiscal results are sensitive to office vacancy, development assumptions, and the number of school-aged children generated by new housing.
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The approved report is intended to help Town Meeting evaluate the potential financial effects of the Belmont Center Overlay District. Committee members said they could not independently revise the consultant’s assessed-value assumptions and that higher vacancy or school enrollment could reduce or eliminate projected net fiscal benefits. The separate Center Gateway Overlay District report, including its hotel component, was not approved and will return after revisions.
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