Energy Project to be Decided Monday

Voters will be asked at Monday’s Special Town Meeting whether to
support energy-savings renovations at the and five
school buildings through a project overseen by Honeywell.

The meeting will be held at 7:30 p.m Feb. 13 at .

The project would cost a total of $6.8 million, which would be funded
through the use of $1.6 million in free cash to pay down the principal. The remainder of the cost will be offset by energy savings to the building, which are guaranteed by Honeywell.

The project would have no impact on property taxes.

This effort will be overseen by Honeywell, which studied the towns’
buildings to determine potential energy-savings renovations that could
be undertaken.

The majority of the project’s cost _ about $5.1 million _ would be used to make improvements to the Municipal Center. This would include upgrades to the heating system and repairs to the roof and the exterior of the building, which leaks significantly in inclement weather, Timothy McInerney has said.

The remainder of the funds would be used on five school buildings.

By a 5-3 margin, the Finance Committee recommends passing the article.

Their reasons for support:

Honeywell guarantees the renovations will be completed on time and as specified.

The project addresses several significant issues with the Municipal Center infrastructure.

Guaranteed energy savings for three years.

The renovations and bond costs are intended to be paid through a combination of available funds and expected energy savings, not by increasing the property tax rate.

The bond needed for the project may qualify for a low interest rate.

Reasons against supporting the project:

Municipal Center repairs are being undertaken without an analysis that indicates that this building’s needs are a higher priority than needs at other town buildings.

Operating budget savings are being committed to new savings before the Fiscal 2013 revenue vs. expense shortfall has been resolved.

The project has to be funded through a 20-year bond so that the projected yearly energy savings will cover the corresponding debt service expenses. This will increase the interest cost to the town relative to that associated with a 10-year bond that the town has used for other similarly sized projects.