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The Council approved authorization for a 10-year Tax Increment Financing agreement to help bring TransMedics to Somerville; if the company chooses Somerville, it plans to occupy 500,000 square feet and add 600 jobs. The Council also reviewed a draft combined sewer overflow plan that anticipates annual water and sewer rate increases of 15% to 20% for the next four to five years.
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The TransMedics agreement could bring a major life-sciences employer and new jobs to Somerville, but the company is still considering other locations. The Council approved funding for six electric vehicle charging stations, a Blue Bike station, a 2026 warming center, and infrastructure funds for BrickBottom and Boynton Yards. Plans for 90 Washington Street, community benefits funds, housing assistance funds, and several surveillance technology reports were sent to committees for further review. The draft sewer plan is not yet approved; future rate changes needed to fund it will require Council action.
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