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Selectmen review Manahan boathouse plans and trust earnings; trust income $298,515 in 2025
Summary
Selectmen reviewed plans for the Manahan boathouse and discussed trust finances; Trustee Riche' Colcombe said the Manahan Trust had an end income balance of $298,515 in 2025 and recommended reviewing earnings strategy as trust yields were low.
Plans for the Manahan boathouse were presented to the Selectmen; Selectman James Bailey recommended stainless-steel fixtures, floor drains and steel doors for longevity. As Trustee of the Trust Funds, Riche' Colcombe raised concerns about the trust’s income, noting earnings were only 2.9% and asking whether the town should instruct Bank of NH to consider options to bring in more income. Colcombe reported the Manahan Trust end balance for income in 2025 was $298,515.
Town Administrator Buono said expected project completion is May 2027 and advised the board that they should wait for bids and only build what can be afforded. Selectman Bailey said the town would adjust the project scope based on bid results.
