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Select Board discusses $6.4 million plan to buy and upgrade West Swanzey water system
Summary
Town staff presented a plan to acquire the privately owned West Swanzey water system and spend an estimated $6.4 million on purchase and upgrades, leveraging an unprecedented 40% principal-forgiveness offer from the state SRF; the meeting focused on cost, who would pay, wastewater capacity and next steps toward voter approval.
Town staff presented a plan for the town to acquire the privately owned West Swanzey water system and pay an estimated $6.4 million to make it “turnkey,” with new pumps, a storage tank and a 12-inch main to serve additional connections and fire flows.
The staff presentation, given at a Select Board meeting, said the purchase price for the utility itself is about $600,000, the new pump house is estimated at $2.5 million and a storage tank at $3.3 million. The town has an application pending with the New Hampshire State Revolving Fund (SRF); staff said SRF is offering 40% principal forgiveness on the loan package, an unusually large subsidy staff said might not recur.
The town’s analysts told residents the full $6.4 million figure includes acquisition and construction to bring the system up to modern standards and to allow new service connections. Staff said the 40% principal forgiveness would reduce the loan principal the town…
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