Finance committee reopens and unanimously backs revised Article 10 totaling $32.14 million

The Nantucket County Finance Committee voted unanimously Thursday to reopen and recommend approval of Article 10, a revised annual town-meeting warrant article that would appropriate $32,139,146 for general fund capital expenditures, including a $2,000,000 draw from the sale-of-real-estate account for a property acquisition and $1,275,496 for Surfside-area road reconstruction and transportation improvements.

The recommendation matters because the article bundles multiple capital projects and a borrowing authorization that affect the town’s near-term borrowing needs and could be partly contingent on a ballot question to raise the tax levy for capital purposes. Brian, a staff member presenting the article changes, told the committee the revisions add the Surfside roads borrowing authority and a property purchase and remove language referring to gift purchase or eminent domain.

Brian said the new total with the additions is "$32,139,146" and asked the committee to reopen the warrant article so the Select Board’s primary-sponsor article reflects those changes. He also noted that Susan Carmel, assistant finance director, is working with the chair of CAPCOM to review the water-department mobile treatment plant, the house purchase, and the Surfside-area roads at CAPCOM’s next meeting.

Committee members pressed staff on how the revised article affects borrowing across fiscal years. Brian said the town’s market activity for short-term borrowing bands is typically "anywhere between 25 to $35,000,000 annually" and that the figure for fiscal 2026–27 will depend on project timing and final contract numbers. He said if a large project such as the Ireland Home moves forward, the overall annual borrowing needs could change "substantially, probably by 20 or 30 or 40,000,000" depending on the cash-flow pro forma produced by the owner’s project manager.

Brian also explained that some items in the article include a capital-exclusion provision: "we typically use a capital exclusion, which is contingent on a ballot vote," he said, adding that a capital exclusion is used to permit a one-time increase to the tax levy for items such as vehicles and rolling stock. He told the committee that if the ballot question fails at the annual town election, the town would not have authorization to expend for those purposes that carry the provision.

After discussion, the committee voted first to reopen Article 10 (motion by Peter Schafer, seconded by Joe Wright) and then to adopt the report/recommendation on the revised article (motion by Peter Schafer, seconded by Jeremy Bloomer). Both roll-call votes were unanimous.

The committee recorded that staff will present the revised elements to CAPCOM at its next scheduled meeting before the town meeting, and the Finance Committee will reconvene March 27 to finish minutes and remaining business.

Votes at a glance: Reopen Article 10 — motion carried unanimously (Peter Schafer moved; Joe Wright seconded). Adopt recommendation on revised Article 10 ($32,139,146 total) — motion carried unanimously (Peter Schafer moved; Jeremy Bloomer seconded).