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Selectboard weighs SRF, USDA and bond timing as water-main project moves toward construction
Summary
After a 60% PER review, officials said the water-main replacement project's cost estimate rose and the town is eligible for SRF priority listing; the board discussed SRF 0% loans vs USDA 4% loans and whether to pursue a bond vote in March or November 2025.
Chair (S1) reviewed the 60% PER (preliminary engineering report) and said cost projections had increased by roughly $30,000 since the last review. He summarized funding options presented in the PER: a State Revolving Fund (SRF) revolving loan at 0% interest for a 30-year term with an estimated annual payment around $42,700, and USDA programs that could require a 40-year loan at roughly 4% interest with annual payments near $64,000.
The Chair said the town is on the SRF priority list but that census-population figures may make the town ineligible for some subsidies. Board members discussed the schedule required to begin construction in 2026 and the consequences of different bond-vote dates: a March 2025 vote could keep the construction timeline on-track, while a November 2025 vote would allow more finalized numbers but might push construction into 2026. Members also raised public-outreach needs should the vote be conducted by Australian (mail-in) ballot, since state rules would require ballots to be mailed to all voters and that can limit in-person discussion at a town meeting.
Why it matters: the board must choose between loan options, time a bond vote to preserve the project schedule, and design public outreach so voters understand the costs and who pays (water users vs. whole town). The board asked staff to check with the Secretary of State’s office about timing for mail-in ballots and to prepare an informational plan for ratepayers.
