Selectmen Hope to Ease Debt Burden

With numerous municipal projects approved and others being considered, selectmen hope to ease the tax burden on residents.

One possibility, discussed at the Oct. 4 selectmen’s meeting, would be to bundle all the debt, set it a new, lower interest rate and expand the years of payment.

This would keep the debt payments consistent, rather than front-loading the payments, which would lead to higher costs up front.

Doing this would ease the crunch on the elderly, who are often “most vulnerable,’’ and push payments out to be paid by those who will be most impacted by the new buildings, Town Administrator Timothy McInerney said.

“The intention is to soften the blow,’’ he said.

Selectmen expressed interest in learning more about this possibility.

Selectman Brook Padgett said the idea appealed to him after hearing from many residents who are concerned about the tax burden. In recent years, residents have approved the construction of a new , and

Town Meeting voters will consider a new later this month and plans have been discussed for a new Department of Public Works building and significant road work.

Padgett said that with interest rates low, the concept makes sense.

He stressed, however, that by doing this, residents must be assured that, pending emergencies, no additional municipal building projects would be considered.

Selectmen wanted to learn more specifics of the plan. “It’s worth looking into,’’ selectman chairman Peter Adams said.