could it also work in Bridgewater?
October 23, 2006
In Hanover, a Town Meeting vote is approaching to convert the funding of preciously purchased open space from a Prop 2 1/2 added-tax to a funded project of the Community Preservation Act.
The following is from today's Patriot Ledger (included for ease, in case file not archived):
Sought: Change in way land is paid for; Meeting to vote on using Preservation Act funds
The Patriot Ledger, 10/23/2006, By ANDREW LIGHTMAN
HANOVER - Voters at a special Hanover town meeting tomorrow will be asked to reconsider how to pay for 74 acres of former farmland on King Street that the town agreed to purchase six years ago.
In 2000, residents voted to buy the property from Frank Cervelli of Rochester for $1.4 million by exempting the purchase from the property-tax limits of Proposition 2˝. The town now wants to borrow the money and repay the loan with money from the town’s Community Preservation Act account, which includes matching funds from the state.
"It will be interesting to see how the debate develops," Town Moderator Doug Thomson said. "We’ve never spent money from his account before."
Tomorrow’s special town meeting, which has eight warrant articles, is scheduled for 7:30 p.m. at Hanover High School.
If the change is approved, voters will eventually have to rescind the override, Town Administrator Stephen Rollins said.
Thomson said that vote must wait until after tomorrow night’s meeting, because voters received no advance notice.
The King Street property will be used for open space and recreation.
"The town has been looking forward to this for a long time," Selectmen Chairman Alan Rugman said. "We’re very short on our fields."
Rugman said work on new playing fields could start immediately, since the town’s community preservation account contains more than $1 million.
"With that community preservation fund (already) there, there is a lot of other activity that can go on," he said.
With Bridgewater annually paying about $140k (it declines a little each year) in principal and interest costs on the purchase of the Hogg Farm land from operating revenues, this would seem to be a good idea to investigate utilizing CPA funds to make the payments. Just as there were financial considerations for the $1.9M in additional New Regional High School work (state money at 66%), CPA funds are also matched (state money is 50% of current balances).
If the CPA funds this payment, that frees $140k in operating revenue for the Town to use in other areas. Or, not to use, and lower taxes accordingly!
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Joseph Gillis Jr.
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