Subject of pre town meeting, what if the town got “banged” with 4% interest rather than 3.5%. The newest member of the board of selectmen stated going from 3.5 to 4% would not being “getting banged”, so the below table shows the various costs from 3.5% to 5%. Clearly, the costs increase with a change in interest rates, but do you consider it “getting banged” for an increase of $82,000.00 (approximate) when going from 3.5% to 4% interest rate? The below numbers are the result of going to the division of local services web page and using the debt calculator. The dollar figure is based off what was presented to a special Town meeting in 2015 with a total voted borrowing of $47 million dollars. Would construction costs go up or down in 3 to 5 years? will borrowing costs go up or down in 3 to 5 years? What is the cost of doing nothing? What is the costs of changing direction, such as a new location?

posted by Jeff Bennett

Amount Borrowed	Years	Interest Rate	Principal & Interest  - Yearly payment	Interest only
$24,000,000.00	28	3.5	$38,036463.00               $1,358,463.00	$14,036,978.00
$24,000,000.00	28	4	$40,328,719.00              $1,440,311.00	$16,328,719.00
$24,000,000.00	28	4.5	$42,685,981.00              $1,524,499.00	$18,685,981.00
$24,000,000.00	28	5	$45,106,340.00              $1,610,941.00	$21,106,340.00