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Municipal advisor outlines debt, building-aid scenarios for possible Saugerties capital vote
Summary
The district’s municipal advisor presented financing scenarios showing how a voter-approved capital project could be structured to fit within an anticipated local tax levy “drop-off,” using $4.7 million in capital reserves and two building-aid eligibility assumptions (95% and 70%).
The Saugerties Central School District’s municipal advisor briefed the board on options for a potential voter-approved capital project and long-range debt plan at the June 10 meeting.
Chris DiCarlo of the district’s municipal advisory firm presented assumptions, timelines and two scenarios that used the district’s capital reserve (approximately $4.7 million) to maximize New York State building aid and avoid raising the local tax levy. DiCarlo told the board the district’s current building aid ratio is 66% and that he had modeled a high-aidable scenario (95% of project eligible for aid) and a lower-aidable scenario (70% eligible) to illustrate how project scope and incidental/site costs affect the local share.
DiCarlo outlined key assumptions and dates: a targeted…
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