Hartland
Ormiston said in a phone interview on Tuesday that if the reconstruction project were financed over 10 or 20 years by bank borrowing or a bond, it would be less of a financial strain on taxpayers and the town could use the money in the capital projects fund to pay for deferred maintenance on town buildings, including the recreation center.
The 2014 approval by voters to use the money in the capital projects fund included paying it back over five years or about $90,000 per year, Ormiston said.
“It would be easier on taxpayers and frees up money to do work on town buildings,” Ormiston said. “Otherwise that money is tied up for five years, maybe longer.”
Additionally, Ormiston said the town should not “burden” today’s taxpayers with a five-year, $90,000-a-year payback when the benefits of rebuilding the intersection will be used by many others for 50 years or more.
“Why is the taxpayer today being hit over the head with a five-year payback?” said Ormiston, who raised the matter with the Selectboard at its meeting on Monday. “This would soften the payback period.”
Even though interest payments would increase the ultimate cost if the money is borrowed or bonded for a longer period of time, Ormiston said that extra expense would be more than offset by realized savings if maintenance, including drainage work around the recreation building and Damon Hall, is done sooner, rather than later.
“There is definitely major work we need to take care of,” Ormiston said. “The cost of not doing the work could equal the added interest.”
The reconstruction, expected to begin next summer, would create a four-way intersection of Route 5 and 12 and eliminate the sometimes confusing traffic flow for cars heading north or south on Route 5 and turning south off Route 12. The project cost of $550,000 also is being paid for with a $100,000 state grant.
Ormiston said another issue that has come up is that a large utility pole with numerous wires would be left in the new green space that would be created on the east side of Route 5 when the current spur carrying travelers north and south on the state highway is eliminated. He said some residents have said the pole would look out of place and spoil the plan for a “nice village setting.”
That has led to discussions on burying the wires, which could add an estimated $200,000 to the project, Ormiston said.
He expects the board to consider the change when it meets again on Sept. 10.
If the board agrees to have the wires buried, Ormiston said, Hartland would need to update the drawings submitted to the state and also decide on a different method of financing the project.
Ormiston also said if the Selectboard wants to pay for the project with a bond or borrowing instead of the capital projects fund, it would need to get voter approval at Town Meeting in March.
Patrick O’Grady can be reached at pogclmt@gmail.com.
