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Resident raises concerns about school lease‑purchase terms for roof and windows
Summary
At the June 9 Select Board meeting, Charlene Mazzeo said a school lease‑purchase for roofing and window replacement will feature a 6.97% fixed rate for the first 10 years, a variable rate for the remaining seven, and annual payments capped at $30,000 over 17 years; she noted contractors from New Hampshire and Maine were selected.
During public comment at the June 9 Hope Select Board meeting, Charlene Mazzeo said she attended a school board meeting that approved a lease‑purchase agreement for roof and window work and outlined the deal’s basic terms.
Mazzeo told the Select Board that the lease‑purchase carries a fixed 6.97% interest rate for the first 10 years and then shifts to a variable rate for the remaining seven years. She said the agreement limits annual payments over the 17‑year term to no more than $30,000. Mazzeo also reported a New Hampshire company was awarded the roofing contract and a Maine firm will replace the windows.
The remarks were recorded as public comment; minutes do not show any board action or response to those details during the meeting. The school’s formal vote to approve the lease‑purchase was described by Mazzeo as occurring at a school meeting she attended, but the Select Board did not take action on the school contract at this session.
Because the board did not act on the school lease at this meeting, the town record presented these points for the public record rather than as a board endorsement or formal approval.
