The developer of the highly anticipated Wayland Town Center recently contributed $315,000 to the town of Wayland as part of its pledge to provide a total financial gift in excess of $3 million to town coffers.
The developer, Twenty Wayland, LLC, is fulfilling its pledge under its development agreement to give the town a revenue boost even though the project is not yet allowed to begin construction, and in spite of an uncertain economy.
To date, the $315,000 paid to the town will be used for the following:
*$35,000 to be used for the improvement, management and maintenance of Cow Common, the 65-acre, town-owned conservation land abutting the development.
*$50,000 to be used for the purchase and installation of a wireless municipal fire alarm system to serve buildings located in the Wayland Town Center and town-owned buildings, including public school buildings.
*$230,000 to be used to complete certain public improvements and for other valid public purposes that mitigate impacts of the Wayland Town Center project.