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Trustees discuss Xcel 1% undergrounding funds for Chalkos Park; no final decision
Summary
Staff reported approximately $295,190 in Xcel 1% funds and the option to borrow three years of future funds (roughly $424,000 total). Trustees debated using those funds for undergrounding and park improvements at Chalkos Park versus preserving the funds for other capital needs; direction to staff was to return with phased options.
Town staff briefed trustees on a potential funding source for undergrounding utilities at Chalkos Park supplied by Xcel’s 1% undergrounding program. Staff reported an available balance of about $295,190 held by the utility and said the town could borrow up to three years of future payments, bringing the short-term total available to roughly $424,000.
Trustees discussed the trade-offs of using those funds now for undergrounding and park work versus reserving the resources for other town capital needs. Some trustees expressed concern about committing the town’s limited discretionary funds to a single project, noting other high-priority capital needs and a recently reduced parks & recreation reserve. Others argued that undergrounding through a utility-specific fund is an appropriate use and would materially improve that corner of town in conjunction with park improvements.
No final appropriation was passed. Trustees requested staff return with concrete phase-one options that would align work with the Xcel undergrounding window, clarify what uses of the town’s other available capital (including a previously set-aside $500,000 draft line) would accomplish, and present a clear scope and cost estimate for each proposed phase. The board also asked staff to verify any prior agreements about earmarked funds related to Mainline South and to report on timing and implications.
