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Council moves $100,000 Sevens Pond watershed plan to deliberative session; town says loan likely fully forgiven
Summary
The council moved a $100,000 warrant to complete a Sevens Pond watershed plan; town staff said the Clean Water State Revolving Fund program would likely forgive the principal so there is no tax impact expected.
The Bedford Town Council voted to place an article on the ballot authorizing up to $100,000 in bonds or notes to complete a watershed management plan for Sevens (Sebben/Sebbens) Pond and to pursue funding through the Clean Water State Revolving Fund.
Town Manager Rick Sawyer said the state program would provide a loan with potential forgiveness and characterized the expected outcome as effectively 100% forgiveness of the loan principal: “This, I believe, is no tax impact. It's a simple, 100 forgiveness loan from the state, clean water state revolving fund for the project,” Sawyer said during the presentation. He added that minimal interest might be incurred but staff expected existing funds could cover that cost.
The warrant specifically authorizes the town to apply for, obtain and accept Clean Water State Revolving Fund assistance and requires a three-fifths ballot vote for approval. No members of the public spoke during the article’s public hearing.
The council voted to move Article 5 to the Feb. 3 deliberative session and recorded a recommendation of 7–0 in favor of placing the article on the warrant.
Ending: If voters approve the article and the state provides principal forgiveness as expected, the town’s share of costs would be minimal; the council recommended the article unanimously to appear on the warrant.
