The Needham Finance Committee voted Dec. 3 to approve an initial $50,000 reserve fund transfer to seed a tenant relocation assistance program for residents of the Stephen Palmer property.

Town staff described the program as providing up to $10,000 per unit in reimbursement for eligible relocation costs, including application and credit-check fees, security deposits, rent differentials for up to four months and moving costs. “The program for the tenant relocation assistance is up to $10,000 per unit in reimbursement for eligible costs,” the town manager told the committee.

Staff said Housing to Home, the town’s contractor, has begun one-on-one meetings with residents and that more than half of residents have been interviewed and some reimbursement applications are already being filed. The $50,000 is an initial transfer to allow prompt reimbursement as requests arrive; staff said a warrant article will likely be filed in spring to fund any remaining balance of the program’s maximum exposure of roughly $280,000 (28 units at $10,000 each).

Committee members asked whether recently moved-in residents are eligible; the town manager said every unit is eligible and that eligibility relates to eligible expenses rather than length of residency. He added that the program will reimburse expenses as they are incurred and that final payments are conditioned on vacating a unit when the relocation is completed.

Speaker 4 moved the reserve fund transfer and Barry seconded; the committee approved the transfer by voice vote.

Town staff said they will monitor applications and return to the committee with updates and additional funding requests if needed before spring town meeting.