ATTLEBORO - A deal worked out between the city council and mayor which will funnel at least $75,000 - and possibly as much as $125,000 - to the cash-strapped Attleboro Redevelopment Authority won't meet the agency's needs, said ARA Chairman Pret Stevenson on Wednesday.

"It's not enough money," Stevenson said in the wake of the deal hammered out between city Councilor Brian Kirby and Mayor Kevin Dumas and agreed to by the full council on Tuesday.

"I appreciate all the work they did on it, but I don't think that big of a cut is acceptable," Stevenson said.

Stevenson was out of town on Tuesday and not available for comment.

The money would come from the federal government's Community Development Block Grant or some other source deemed appropriate by Dumas. The council voted 10-0 to approve the CDBG budget without an allocation for the ARA, but that vote is based on a deal that the mayor will provide money for the agency.

ARA officials were hoping to get at least $150,000 from the block grant, which is appropriated annually to pay for an array of local social services and economic development initiatives.

The $150,000 would be about half the $301,000 available for economic development efforts.

The grant is worth a total of about $463,000. The ARA's original request was for $175,000, but the authority cut its budget by about $35,000 and reduced the request to $150,000 last week.

The lack of money will have a serious impact on progress at the industrial business park now under construction, Stevenson said.

"It's going to affect the project," he said.

Money for legal fees, appraisals, engineering and supervision of the project is crucial to keep the project, which is expect to produce operating money for the ARA and tax money for the city, on course, he said.

Meanwhile City Councilor Brian Kirby, main architect of the deal, said he believes the agency can get by.

"I think they have enough to do what they need to do," he said. Kirby said the ARA could get as much as $100,000.

On Tuesday Dumas said the ARA should trim more money from its new budget of about $554,000 to help make up the difference. Dumas has argued the ARA should be self-sufficient and that the city needs to do some short term projects, including an 18-unit affordable housing project in South Attleboro and facade improvements downtown.