Finance commission approves Norwood FY26 capital plan, sets $2 million capital‑stabilization seed; members debate borrowing vs. free cash

The Norwood Finance Commission voted Oct. 16 to approve the town's fiscal‑year 2026 capital plan and to place $2 million into a newly proposed capital‑stabilization fund, while staff and commissioners debated whether to pay for projects with free cash or by borrowing.

Capital Outlay Committee Chair Bob Donnelly and staff presented the committee's FY26 recommendations. Assistant Town Manager Mike Rosen described the plan's projects and funding sources and answered commissioners' questions. Rosen told the commission the committee met several times with department heads and that the plan was vetted before it was presented to the Selectmen.

Key changes and projects discussed: - Elementary schools HVAC: A $250,000 study originally in the plan was removed; Paul Riccardi (facilities) and staff instead will have facilities staff assess elementary‑school electrical capacity in‑house and return in the spring with a targeted replacement program. Donnelly said Diorio Electric will produce a report on electrical needs at five elementary schools and coordinate with the light department. - Sidewalks and roadwork: The plan proposes continued multi‑year sidewalk investments; Rosen said recent work has completed many of the worst segments and that the plan would add more miles in FY26–FY28. -…