Tom
09-26-2007, 03:28 PM
The Oct. 15 Town Meeting will be asked to vote on 10 articles, including the creation of a capital reserve fund, in the final version of the warrant approved by selectmen Tuesday night. The town has an unusually hefty amount of free cash this year -- $4.7 million.
Of that, $754,000 comes from additional state reimbursement for the high school, Elm and Boyden construction projects. The state agreed to cover its share of the interest costs on bond anticipation notes. Boynton would use that money to seed the proposed capital reserve fund, which he estimated could earn $35,000 or so a year to help pay for improvements to buildings and equipment.
Also contributing to free cash are $1 million in building fees paid on the expansion of the Siemens facility on Coney Street. Another $620,000 comes in special education Medicaid reimbursements, which a routing fall TM article calls for turning over to the schools. In addition, the town closed out FY07 $1 million on the plus side for the 12 months, Boynton said.
A capital article on the warrant could be used to provide money for sprinklers in portable classrooms at Old Post Elementary School and smoke detectors at Bird and Johnson middle schools, he said. The smoke detector projects could cost $360,000, he said.
An article asks for rezoning for construction of an office building on Route 1 in Walpole at the site of the warehouse on Common Street.
Boynton said he expects there'll be an update at Town Meeting on a rezoning study and on the effort to create a housing production plan that would give the town more leverage in dealing with 40B housing proposals.
Of that, $754,000 comes from additional state reimbursement for the high school, Elm and Boyden construction projects. The state agreed to cover its share of the interest costs on bond anticipation notes. Boynton would use that money to seed the proposed capital reserve fund, which he estimated could earn $35,000 or so a year to help pay for improvements to buildings and equipment.
Also contributing to free cash are $1 million in building fees paid on the expansion of the Siemens facility on Coney Street. Another $620,000 comes in special education Medicaid reimbursements, which a routing fall TM article calls for turning over to the schools. In addition, the town closed out FY07 $1 million on the plus side for the 12 months, Boynton said.
A capital article on the warrant could be used to provide money for sprinklers in portable classrooms at Old Post Elementary School and smoke detectors at Bird and Johnson middle schools, he said. The smoke detector projects could cost $360,000, he said.
An article asks for rezoning for construction of an office building on Route 1 in Walpole at the site of the warehouse on Common Street.
Boynton said he expects there'll be an update at Town Meeting on a rezoning study and on the effort to create a housing production plan that would give the town more leverage in dealing with 40B housing proposals.