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Betsy’s Cove renovation approved by Brooksville voters; officials weigh loan options to cover $150,000 shortfall
Summary
Brooksville officials and voters approved a renovation of Betsy’s Cove after bids came in higher than expected. Selectmen and the treasurer discussed loan alternatives and state funding; the special town meeting approved the project but exact vote tallies were not recorded in the minutes.
Voters at a special Town Meeting on July 22, 2021 approved improvements for Betsy’s Cove, the Town of Brooksville’s landing project, the minutes show. Forty‑nine residents were present and the project “passed with a high percentage of yes votes,” but the meeting record does not include a precise tally.
The project’s cost estimates have risen: at a Nov. 24, 2021 meeting, Harbor Committee member Mark Shaughnessy told selectmen bids for the work came in about $150,000 higher than anticipated and that bids were only valid through Dec. 30. On Nov. 17, bids opened ranged from $736,933 to $889,816, according to the minutes; selectmen reviewed them and took no immediate vote that day.
Town Treasurer Freida L. Peasley reviewed borrowing options for covering the increased cost. The minutes record two paths under consideration: (1) take a separate additional loan for only the extra funds needed, or (2) consolidate existing debt — previously borrowed amounts reported at $305,000 plus the extra $150,000 — into a single $455,000 loan at an estimated 2.45% for seven years. Peasley said she would review bank options with the town.
Selectmen also recorded that some funding might come from surplus and state sources: the minutes list a possible $60,000 from surplus and a $250,000 state contribution to help close the gap, and they noted paperwork from a local bank (BHBT) and state funding proposals were being handled by staff.
The town has moved forward with administrative steps: loan paperwork related to the project was signed by selectmen in July and again in other recorded meetings, and town staff continue to coordinate drawings and grant conversations with the Harbor Committee and state agencies.
What’s next: with town approval secured, selectmen instructed staff to continue finalizing financing and contracting. The meeting records do not include a formal contract award or a final, itemized construction contract in the minutes provided; the vote count at the special town meeting is recorded as “not specified” in the minutes.
