The Finance Committee recommended a capital of $3,166,522 with $158,326 coming out of the current budget for a down payment. The remaining $3,008,196 would need to be bonded, said De Luca.
“We are retiring $3,245,000, so the new debt is 93 percent of what we are retiring,” he added. “Most of that is fueled by some big ticket items: a new Jitney and a fire engine, in addition the repaving of Springfield Avenue.”
Another $70,000 was added to the Council on Affordable Housing, which had gone down to about $4,000. They also added $130,000 to the parking lot improvement at 60 Woodland Road.
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