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Board of Finance approves LoCIP allocations to send to Town Meeting
Summary
The Sharon Board of Finance voted March 17 to forward three LoCIP allocations to a Town Meeting: $20,000 for the town plan update and $49,999 each for topcoats on Boland Road and West Woods Road #1, noting available LoCIP balances and that remaining costs will come from the highway budget and State Aid for Road funds.
The Sharon Board of Finance on March 17 voted to forward three LoCIP funding requests to an upcoming Town Meeting: $20,000 for completion of the town's Plan of Conservation & Development, $49,999 for a topcoat on Boland Road and $49,999 for a topcoat on West Woods Road #1. First Selectman Flanagan reviewed the projects and the town's LoCIP balances before the vote.
Why it matters: allocating LoCIP funds for the two topcoats reduces the Highway Road Repair budget allocation for those projects; the Board heard that the remaining balance for the road work would be covered from the town budget and State Aid for Road funds.
Flanagan outlined current LoCIP account figures, saying the LoCIP Entitlement portion on hand is $30,550 (state-held and reimbursed after expenditure) and the LoCIP Grant portion is $151,628.86 with an anticipated receipt of $72,782.64, for a total of $224,411.50 in the town's separate LoCIP account. The $20,000 allocation is intended to cover the balance of contract work with Janell Mullen Consultants, any required legal fees and printed copies of the document.
Mr. Bartram moved to approve forwarding the requested LoCIP allocations to a Town Meeting; Mr. Hecht seconded the motion and it carried with all in favor. The Board did not record a roll-call tally in the transcript beyond noting the unanimous outcome.
Next steps: the allocations will appear on the warrant for a Town Meeting where final approval is required.
