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Davenport analysis: Amherst faces an $8.2M FY27 capital spike; financing could lower advertised tax rate
Summary
Davenport & Company told the Board that Amherst—s draft FY27 CIP lists about $8.2 million of projects concentrated in 2027; financing roughly $7.5 million across 4/7/15‑year terms would spread payments and could reduce the advertised tax rate (staff model reduced to ~58¢), but the board must weigh debt-service peaks in 2027–2031 and the use of reserves.
Sam Stewart, a financial adviser with Davenport & Company, presented a five‑year capital and debt analysis for Amherst County, saying the draft FY27–31 CIP places roughly $8.2 million of projects in FY27 and a smaller program (~$1M/year) thereafter. "Without any strategic use of debt financing that would cause about $6.7M use of reserves or other revenue sources" in FY27, Stewart said.
Davenport proposed financing about $7.5M of the FY27 needs across maturities matched to asset life (some shorter, some 15 years) to reduce the immediate FY27 cash hit and smooth…
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