Building for the Future
Town Manager: Town Can Build 3 Elementary Schools Within Regular Budget
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Few towns can afford to pay for a major school project within its operating budget, let alone three, but Town Manager Michael Driscoll announced that the town would be able to finance the renovation or reconstruction of all three elementary schools without having to add to tax bills by passing a debt exclusion, Tuesday night.
Driscoll discussed the financing of the Building for the Future school building program when he presented the Fiscal 2019 Preliminary Budget overview to the Town Council. His budget drew applause from the audience in the Town Council Chamber. “I am pleased to inform you we are proposing a plan which you will see whereby financing of the potential Elementary Schools Project estimated at $80 million t0 $120 million is included in the Debt and Interest Forecast beginning in Fiscal Year 2020, all of this to be done within the confines of Proposition 2 ½ and all of this to be done without the need to request debt exclusion financing from the taxpayers of Watertown,” Driscoll said. The announcement left grins on the faces of all the Town Councilors and the department heads at the meeting. Town Council Vice President Vincent Piccirilli estimated that paying for the project with money borrowed through a debt exclusion would have added $500 annually to the property tax bills of the average Watertown residential property owner.