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Committee reviews debt schedule tied to potential $18 million police station
Summary
At the Feb. 9 meeting the Cohasset Capital Budget Committee reviewed a debt-service schedule shared by Chair Susan Franklin that showed as much as $18 million in potential additional bonding related to a new police station and discussed incomplete benchmarking data on comparable projects.
Susan Franklin, chair of the Capital Budget Committee, reviewed a debt-service schedule the committee received that showed a potential additional $18 million of bonding associated with a new police station. She told members that if the Town bonds that amount the Capital Stabilization Fund would need additional funding to cover the annual bond payments.
Committee members said they had begun informal benchmarking — including cost-per-square-foot comparisons for similar Eastern Massachusetts communities and an OpenAI-assisted search — but that the material presented lacked detail about building inclusions and must be refined and adjusted for recent construction-cost inflation. The committee directed staff to follow up on the benchmarking study submitted to the OPM and to return with more detailed, comparable cost data.
