$16.72 per thousand, couple that with increase in valuations and people will see a nice tax bill increase coming their way - Merry Christmas
On Templeton Town website, one can find the bid/contract proposals for the police station addition listed at $2,133,200.00. This seems to contrast with the amount listed in a memo from the part time town administrator to selectmen.
part of that memo:
The initial reaction is that we will not be able to obtain a MIG 1 rating. There is a strong possibility we can achieve a MIG 2 rating but that is never certain until one formally submits the documentation for review. Even if we achieve a MIG 2 rating it is at least .25% above the interest rate of a borrowing rated MIG 1 rating. Our advisor has recommended, and I agree, that we not seek a formal bond rating at this time but instead finance our needs through unrated bank notes.
The maximum for this in this calendar year will be $10,000,000 which is more than enough to cover our needs ($5M BAN, $1M Police, $2.3 Sewer, $1.7 new money). This gives us $5.4M+/- for the school in CY ’18. We will then seek an additional $10,000,000 in CY 2019 and continue to work toward an acceptable bond rating as your financial picture slowly improves.
Notice that 1 million for the police station - time to regroup/ so does that mean only 4.5 million for the new school for FY 18?
Does anyone remember that 1.9 million dollar number for a 12,000 sq. ft. building for a town hall? I think the bid proposals came in near 4 million, leaving me with the opinion when the elected ones tell you it will cost this $$$, you should take that number and double it. Lets not forget that 5 million dollar BAN (bond anticipation note) due in December. Will there be a bond or will that note be extended?
On another front, Hubbardston is the latest town to change to all salt for the winter months. Some of the reasons given, saves money, keeps road side drains clean, salt is actually a anti ice - de-icing agent while sand is neither of those. That is from an article in a news paper with the DPW director explaining that. No mention of a required $250,000.00 for a new storage facility.
How can they spend $2 million when the debt exclusion was $1 million?
ReplyDeleteOh my, I think our fearless leaders have a problem ! It sure seems that they should be more worried about how they are going to run these projects without the funds to do so. Maybe that should be on the adjenda instead of lapel pins ?? You think ! Oh yes today is December 1. Isn't that the day the town is supposed to pay back the money we owe ? How is our TA going to spin this one ?
DeleteBased on what I've read and observed we only borrowed 7.6 million in the last round of BANs.
ReplyDeleteIt looks like the new number to build any municipal building is closer to $500 per sq ft. I've heard multiple members refer to having to "pay the prevailing wage" as a cause, really? Who doesn't know that is required by the state?
Some of you may be interested in my mini history lesson on the blog before this one. Ma. Municipal Assoc. 11/29. The more things change, the more they stay the same.
ReplyDeleteFool me once, shame on you. I voted Yes on the Police Station, believing the data presented at STM.
ReplyDeleteI know its probably not possible since we are talking municipal financing but my first thought about the Police station is..............We're spending 32 million+ next door to have a school built, could this same company incorporate the Police station addition at a lower cost. Maybe its not possible, but it appears we need creativity to keep costs down.
ReplyDeleteFrom watching the meetings it is my understanding that we will take 7.6 mmillion in BANs. 5 million will pay back BAN due 12/1 leaving 2.6 million. After paying the sewer bill of $2.3 million we are left with $300,000 + the remaining balance of the original BAN funds which I think is 1.7 million.
Looks like the Police station will be on hold for a few more years as we need a new TM vote, financing, etc............How much will it be then?
If you were in debt up to your ears, would you be building anything ? I doubt it very much. We could have been on our way to solvency if our "leaders" had tried to get us back on track. Caplis and I had a discussion after he got elected. I told him to fix this mess ! What did that mean ? Cut back enough so we could start saving some money so we could get a bond rating. Could he do that ? Hell no ! There has been no attempt to get this town on track. We cannot spend our way out of a hole. It has never worked and it will not work now. Maybe this is karma ! Dumping water from South Road, nine catch basins and the whole area of the police station and school will wash out the people on Dudley Road. This will be a worse situation than was before because the town lifted Dudley Road when they fixed it, trapping water in Bradford Kendall's field. As it stands, these people have yards that are close to being wetlands, say by a foot or less. Nice way to treat your neighbors. Because the Conservation Commission thinks the pipe in George Barnes land is "grandfathered" that means no more water can go through that pipe, than went through it before. So that means if anyone thinks they can sell their house to the school or town, to build a parking lot, that cannot happen. That would void the grandfather clause, and cannot be done. Put that in your pipe and smoke it. Hee Hee Hee !
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