Members Present: Carol Troy, Chair; Pam Bruss; Mel Pfeifle; Caleb Connor; Karen Hambleton, Town Administrator
Members Absent: Justin Dohrn
Also in attendance: Steve Hall, Highway Dept.
The meeting was called to order at 7:04
Review and Consideration of the September 8, 2021 minutes.
Motion: Pam Bruss motioned to approve the September 8, 2021 minutes
Second: Mel Pfeifle
All members-aye
Pam presented changes and edits to the CIP.
Karen presented updated balances in the various funds.
The group discussed the amount of money planned for road paving laid out by the road plan suggested by Central New Hampshire Regional Planning Commission and the resulting tax impact.
Pam spoke about delaying the purchase of a few pieces of equipment for the Highway Department by one year each to allow us to be able to fund the paving plan.
It was brought up that we do have a solid plan for paving but not yet for the Town Hall restoration. Karen stated that the Town Hall restoration does have a rough plan but that it needs refining.
Karen presented a report on current bond rates as well as loan rates from the bank.
The group discussed bond rates and the possibility of funding the Town Hall restoration with a bond. It was suggested that the Town vote on a bond with an interest rate “not to exceed” specified.
Several ideas were discussed to fund road paving and the Town Hall. Steve reported on the current rates to borrow money to pay for equipment if there was a need for a new piece of equipment.
It was discussed that if $100,000 per year was put into the Town Hall fund in for 10 consecutive years, we would still not have the amount needed to finish the first-floor phase of the restoration. If we purchase a bond for the project and pay $100,000 per year toward the bond, we would have a Town Hall sooner for roughly the same cost.
Various options were discussed to fund the Town Hall restoration, both savings and bond.
The group discussed using a bond to fund the completion of the first floor versus the amount to finish the entire project. It was brought up that there are possibly grants that are available to help fund the second floor that are tied to the arts and would be appropriate for that space.
It was discussed that updated estimates on the cost of the Town Hall restoration would need to be a part of the plan before being presented at Town Meeting.
Mel brought up that there are various groups and organizations that may be interested in helping with funding for the Town Hall.
Pam suggested that we need a solid plan to fund the Town Hall.
The Committee discussed sharing a specific plan as to which roads will be repaired and when. The downside of tying specific roads to specific funding is that if funding needs change or an emergency requires funding, the opportunities are limited by what the Town votes. The phrase “barring any unforeseen circumstances” was suggested to include to account for that possibility.
The Road Committee was discussed and the plan is for that group to gather in the near future. Steve will reach out to them and schedule a meeting.
How and when to present the CIP plan to the Select Board and Budget Committee was discussed.
It was decided it made the most sense that this group will present the CIP to the Select Board and Budget Committee at the Select Board meeting on Oct 25. Karen will notify the Select Board and send an invitation to the Budget Committee. The CIP meeting that was scheduled for Oct 27 will be cancelled and an additional CIP meeting will be scheduled for early November.
The next scheduled CIP meeting will be Wednesday Oct 13 at 7:00 PM
Motion to adjourn: Pam Bruss
Second: Mel Pfeifle
All members – aye
The meeting ended at 8:43 PM.