Wayne considers $300,000 roads recommendation and possible bonding to cover paving program

Shannon McDonald, the town manager, told the committee the infrastructure committee voted to recommend $300,000 for road reconstruction and paving this year, noting the select board had suggested $250,000 with an expected $50,000 rollover to reach $300,000. The recommendation is intended to fund seven surface paving projects this summer and up to three reclaim projects in the fall.

Staff walked members through historical estimate work by Pike Industries, which produced a planning figure of roughly $438,000 to complete the seven identified roads (reclaim and fine‑grade assumptions). McDonald said that estimate does not include ditching, prep work or escalation clauses and that actual costs could be higher.

Committee members reviewed reserve balances and scenario modeling. Staff reported an approximate pre‑project reserve balance in the road fund of about $691,000; drawing the $438,000 figure for the seven projects would leave a smaller balance, depending on other obligations and pending payments. McDonald said there remains uncertainty about year‑end surpluses and that any rollover assumptions are approximate.

On financing, McDonald said the town met with a bank to discuss bond and bond‑anticipation options. "They said part of the process is packaging municipal applications and that rates could come back in the mid‑4% range for a bond package," McDonald said. Committee members discussed timing for bond applications (February for May financing was recommended) and whether to pursue bond anticipation notes to bridge work earlier in the season.

Members asked staff to provide refined cost estimates, the most recent reserve balances after spring payments, and a plan for prioritizing specific roads if the full paving estimate proves unaffordable. No formal vote on bonding was taken at the meeting.