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Sharon outlines 10‑year capital plan and four financing options; requests BOF review
Summary
Residents Carol Flaton and John Hecht presented four financing options for a 10‑year capital plan (excluding school and town garage projects). The board will ask the Board of Finance to recommend which option to present at an upcoming Town Meeting, with funding anticipated by early May.
The Sharon Board of Selectmen reviewed a proposed 10‑year capital improvement plan and four financing options at its March 10 meeting. Carol Flaton and John Hecht presented the options, explaining the plan was developed with First Selectman Flanagan and Treasurer Pitcher and does not include school projects or the Town Garage project.
The presenters said the recommended financing approach is staged borrowing using a revolving credit facility for specific years of need, then converting that borrowing to a term loan when appropriate. The board rejected full bond financing on the grounds the town would not require the full authorized amount at once.
The board anticipates securing funding at the beginning of May. The Board of Selectmen will review the materials further and request the Board of Finance to select which financing option to bring to a Town Meeting in late April or early May; the BOS may either hold a special meeting or decide at its next regular meeting.
