How is the borrowing paid for?

This is ultimately what you are voting for…. 35% of the borrowing will come annually from the Town’s municipal budget. The current budget proposed by the Select board for 2023 already has that number built in. The remaining 65% would come from a debt exclusion that would be added to your tax bill (like the High School). The total amount for the year on a home valued at $450,000 would be between $55 and $60 dollars. This number can only go up by the annual 2.5% - never more unless there was ever an override. Consequently, in the next year out, it could only go up about $1.25.

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1. What comprises the whole project and what is the total cost?
2. How is the borrowing paid for?
3. Where is the proposed new Building?
4. Why is the Town renovating Freeman Street if the building is so bad and why aren’t we just putting headquarters in the new building?