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Council accepts $86,316 insurance rebate; approves $20,000 for Belknap Mill, schedules public hearing
Summary
The council agreed to a first reading of Resolution 2026‑03 accepting an $86,316 health insurance rebate, approved an amendment to allocate $20,000 to the Belknap Mill foundation and scheduled a public hearing for March 9, 2026.
The City of Laconia received an $86,316 rebate from its former health insurance provider and the City Manager recommended depositing the funds into the Health Insurance Stabilization Reserve. On Feb. 23 the council moved a first reading of Resolution 2026‑03 and approved an amendment to allocate $20,000 of the rebate to foundation repairs at Belknap Mill.
Councilor Hildreth said he had met with the Belknap Mill and noted an estimated foundation need of about $78,000; he proposed allocating $20,000 from the rebate. Councilor Bogert added that the remainder — $66,316 — should be deposited into the Health Insurance Stabilization Reserve Fund, bringing available reserve funds to approximately $286,543 after the deposit.
The motion to amend the recommended motion to give $20,000 to Belknap Mill and deposit the remainder into the stabilization reserve passed unanimously (5‑0). The council also voted to schedule a public hearing on March 9, 2026 to collect public input before adoption of the resolution.
Fiscal impact language in the record states the reserve will total approximately $286,543 after the deposit; Councilor Bogert and Manager Beattie confirmed the funding recommendation.
