Louis Z. wrote: Like Jon Ralston for Nevada elections, I await Andy Payne to break down the > proposed Community Center finances. 😀 >
Ha! You're making me blush. Also, I'm sorry to report that MSNBC has not yet called me to get my take on Lincoln's community center project. As Andy W. noted [thank you!], the Finance Committee's presentation on Town capital capacity from Monday's State of the Town meeting is here, starting around minute 00:52: https://us06web.zoom.us/rec/play/AReYDj7pl35yQSVtt311DbCsaESETqVMTkg-tShgdQTXugCqucmIk7sAPGVGITmPWbid-w_goDv2UdM.EB2NwykpnKw9CdZ4?continueMode=true Key points: - The Town currently has the capacity for up to ~$30m of debt, growing over time in subsequent years. - Each $10m of debt (at current rates, which have been volatile) is around a +1.8% tax increase. For a median tax bill of ~$17,500, that's about +$310/year. - Our Stabilization Fund is currently $3.9m, and is available to lower the debt needed for any capital projects. Also: the upcoming Special Town Meeting vote is for funding *a proposal to develop a detailed proposal* for a community center. That may sound a little Dilbert-y, but that's how things actually work. (If you recall, we went through a similar process with the school building.) At this stage, we do not have a specific project cost, projected operating costs, information about any possible private contributions, etc. Those details would be developed by the Community Center Building Committee (CCBC) during their work. I encourage anyone with project and/or financial questions to watch the SOTT video. If you are in a hurry, there are captions and accelerated playback options. One I-already-talk-too-fast resident's view, -andy https://payne.org/lt-disclaimer/
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