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Lowell to scale back new capital as debt service climbs; high-school project drives major local share
Summary
Officials said annual capital authorizations have averaged about $30 million but that FY27 will likely scale back new authorizations because rising debt service and major school construction increase the operating budgets debt burden. Staff promised detailed amortization at a forthcoming debt session.
At a public budget listening session, Chief Financial Officer Connor Baldwin told attendees that although the city has authorized roughly $30 million a year in capital since 2022, the administration expects to scale back new capital-authorizations for FY27 to manage rising debt-service obligations.
"We will have to scale that back," Baldwin said, explaining that previously authorized projects create a cascading…
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