Long term financial implications of four new buildings were reviewed at a meeting of all five related boards on September 14, 2016. After summaries of each project, one possible funding scenario for long term capital and debt expense was presented by Town Manager Paul Bockelman and Treasurer/Collector Claire McGinnis. The full meeting is available on Amherst Media. Select Board, Finance Committee, Jones Library Trustees, School Committee and DPW Fire Station Advisory Committee were all represented for the presentations and a question and answer session.
Elementary Debt Exclusionestimated impact for three types of property - assumes debt will be issued in 4 large sums over 4 year period, each with 25 year payback term (resulting in 29 year payoff schedule). Short term debt will be used between the large bond issues. Long term interest rates vary from 4-4.75%. Total project cost to the Town used in this estimate is $32.4 million (the debt principal).