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<p class="MsoNormal">Hi Mariah,<o:p></o:p></p>
<p class="MsoNormal">I recommend reading the Finance Committee Handbook: <a href="https://www.mma.org/members/finance-committees/finance-committee-handbook/">
https://www.mma.org/members/finance-committees/finance-committee-handbook/</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">There is a chapter on “Borrowing.” <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Also, see MGL Chapter 44, Sections 7,8, and 10 for purposes for which a town can borrow.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I am by no means a finance expert – I just took a class on Municipal Finance several years ago.
<span style="font-family:"Segoe UI Emoji",sans-serif">😊</span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#244061">Katrina O'Leary, AICP
<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Cambria",serif">Middleton Town Planner</span></b><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#244061"><o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Cambria",serif">195 North Main Street Middleton, MA 01949 PH: (978)777-8917<o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:8.0pt;color:#244061">When responding, please be aware that the Massachusetts Secretary of State has determined that most email is public record and, therefore, cannot be kept confidential.<b><o:p></o:p></b></span></i></p>
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<p class="MsoNormal"><b>From:</b> MassPlanners <massplanners-bounces@masscptc.org>
<b>On Behalf Of </b>Mariah Kurtz via MassPlanners<br>
<b>Sent:</b> Monday, June 26, 2023 8:27 PM<br>
<b>To:</b> Massachusetts Planners <massplanners@masscptc.org><br>
<b>Subject:</b> [Massplanners] Prop 2.5 Override - Capital/Debt Exclusion Tips<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="background:yellow"><span style="color:black">[CAUTION:] This message was sent from outside of the Town of Middleton. Please do not click links or open attachments unless you recognize the source of this email and know the content
is safe. </span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">Hi all,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">Has anyone here gone through the Proposition 2.5 override Capital or Debt Exclusion process to fund a project? Our town hasn't ever (or at least in living memory) had an override
vote, so no one on our team has experience with this process to draw on. I've got our Select Board, Finance Committee, and Capital Planning Committee on board to propose one this fall to fund the demolition of our long-derelict mill building. They have whittled
it down to two options - pay for it in a one time capital exclusion or pay for it through a 5 year debt exclusion. At our public input session residents (surprisingly) largely favored paying for it outright in one year.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">They're currently trying to figure out the logistics of the necessary town meeting and ballot vote. We need at least 4 weeks to plan an STM and 35 days to schedule a ballot vote.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">The least confusing option seems to be host town meeting > take the winning option and create the ballot > residents ballot vote. But some folks are concerned that if there is 35
days between votes, less people will show up for the ballot vote and it will skew the results. In a more confusing option, we could have both options presented at the STM
<i>and</i> on the ballot, but if different ones win in each, we would need to host a second STM to reconcile the results, which seems like a huge headache.<o:p></o:p></span></p>
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<p class="MsoNormal" style="background:white"><span style="font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Mariah Kurtz (she/her)</span><o:p></o:p></p>
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<p><span style="font-family:"Arial",sans-serif;color:black">Town<i> </i>Planner</span><span style="color:black"><o:p></o:p></span></p>
<p><b><span style="font-family:"Times New Roman",serif;color:black"> </span></b><span style="color:black"><o:p></o:p></span></p>
<p><b><span style="font-family:"Arial Black",sans-serif;color:black">Town of Erving</span></b><span style="color:black"><o:p></o:p></span></p>
<p><span style="font-family:"Arial",sans-serif;color:black">12 East Main Street</span><span style="color:black"><o:p></o:p></span></p>
<p><span style="font-family:"Arial",sans-serif;color:black">Erving, Massachusetts 01344</span><span style="color:black"><o:p></o:p></span></p>
<p><span style="font-family:"Arial",sans-serif;color:black">Phone: (413) 422-2800 ext. 1108 | Online:
</span><span style="color:black"><a href="https://linklock.titanhq.com/analyse?url=http%3A%2F%2Fwww.erving-ma.gov%2F&data=eJxdjLEOwiAURb8GtpLaNqQODC66-BOvQJAIPPKgJfXrbeNmcqZzbq5WchjNZZl6e53NzI2K3phgK6YIwuHGo3pKibh_Mj6050VFKCUHSMlS6RZck7aFTf2pda5aIDlO6g2VfAKBwQLtZ__7XdWr1szGGxvuB601YWnzyXW_weG-9FQ3Lg%25%25"><span style="font-family:"Arial",sans-serif">www.Erving-Ma.gov</span></a></span><span style="font-family:"Arial",sans-serif;color:black">
| Facebook: </span><span style="color:black"><a href="https://www.facebook.com/townoferving"><span style="font-family:"Arial",sans-serif">Town of Erving</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt"> <o:p></o:p></span></p>
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