Advisory committee reviews Neary budget forecast, votes to recommend Article 1 to special town meeting

At a meeting of the Town of Southborough Advisory Committee, members reviewed a seven-year budget forecast prepared for the proposed Neary school project and related town capital needs and voted to recommend Article 1 for the special town meeting. Committee members discussed projected tax impacts, operational savings the schools expect if the project is approved, and alternatives including renovating existing buildings or closing Neary.

The advisory committee’s forecast work, presented by member Andrew (Advisory representative on the Neary finance subcommittee), compared two scenarios: approving the new Neary project and maintaining Neary with a program of deferred maintenance. Andrew said the project’s net borrowing need (after anticipated state and federal grants) was roughly $67.6 million and that the total project authorization on the warrant was about $108 million. He told the committee the median single-family tax bill in 2032 would be about $18,098 with the new Neary and about $18,044 without it, producing a difference in the neighborhood of several hundred dollars per year…