Town seeks to change its firehouse bonding limit

FALLS VILLAGE — First Selectman Pat Mechare got a provisional go-ahead from the Board of Finance to investigate options for bonding to raise the $2.5 million needed to complete the new firehouse.

At the regular monthly meeting of the finance board Monday, Jan. 10, Mechare said that her conversations with bond counsel Judith Blank resulted in two possible scenarios.

The key thing is to get around a state law that requires that towns take on 20-year bonds. The goal is a 40-year bond, which will be easier to repay on the one hand, and take much longer on the other.

But with a spike in the town’s education costs for the next few years, the consensus is that the combination of an increased share of the Region One budget plus payments on a 20-year bond would be too much of a burden on taxpayers.

One option is to revise the statute to permit financing through the federal Department of Agriculture (USDA) for any purpose, not just water and sewer projects.

Mechare said that Blank believed this was the simplest method and the least likely to inspire opposition in the state Legislature.

The second option would change the law to allow towns with populations of less than 5,000 to use 40-year bonds. The population of Falls Village is just over 1,100.

Mechare said that state Sen. Andrew Roraback (R-30) and state Rep. John Rigby (R-63) support the ideas, and that she had reached out to Rep. Roberta Willis (D) of the neighboring 64th District as well.

The Board of Finance approved a statement of support as being in favor of bonding for the firehouse project, with the understanding that Mechare will continue to report back on the options for proceeding.

Note: There will be two public information sessions on the firehouse project Jan. 22 and Jan. 31. Check with Town Hall for times.

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