During a recent government meeting, members of the Finance Committee expressed significant concerns regarding a proposed allocation of $800,000 in town funds for a housing project aimed at creating 20 new units. The discussions highlighted skepticism about the project's escalating costs, which reportedly increased by 30% within just a few months, raising questions about the accuracy of the financial estimates provided by the developers.

Committee members voiced their discomfort with the lack of transparency and the rapid changes in project pricing, suggesting that other communities have managed to secure similar housing units with smaller financial contributions. One member, an engineer by profession, emphasized the need for thorough due diligence before committing such a substantial amount of taxpayer money.

Additionally, the committee discussed the ongoing operating costs associated with the project, noting that while the state reimburses 75% of these costs after the first year, the initial financial burden would fall entirely on the town. Concerns were raised about the potential for these expenses to strain the town's already tight budget.

The developers, identified as Caritas, have yet to provide a valuation of the property post-renovation, which has further fueled skepticism among committee members. The lack of concrete financial projections has left some members uncertain about the project's viability and their willingness to support it.

As the meeting progressed, discussions shifted towards the possibility of recommending a lower funding amount to gauge the town's interest in the project while allowing for future funding requests once more detailed information is available. This approach aims to balance the need for affordable housing with fiscal responsibility, reflecting the committee's cautious stance on the proposed investment.