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Falmouth finance staff warns 10-year capital plan has grown to $738.6M; debt-stabilization strategy recommended
Summary
Finance staff told the Select Board the town's 10-year capital plan rose from $524M to $738.6M because of newly added large projects (police station, school renovations, wastewater outfall). Staff urged adding to capital stabilization funds to manage projected debt-service peaks and outlined options including debt exclusions and sequencing.
Finance staff presented an updated 10-year capital improvement plan at the Aug. 24 workshop and told the Select Board the projection increased from roughly $524 million to $738.6 million after adding several large projects. Staff said the town should bolster capital/debt stabilization reserves and consider project sequencing or debt-exclusion votes to avoid an immediate property-tax increase.
Key numbers cited in the presentation: the 10-year CIP estimate rose from…
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