Documents from Public Hearing – 10/27/2011

Posted by Bob on October 27, 2011 under Daily Blogs, Naugatuck High School Renovation | Read the First Comment

The following, financial documents were distributed at the Naugatuck High School Renovate-as-New public hearing which took place last evening (10/26/2011):

Our Finance Department, led by Comptroller Wayne McAllister, chose to present a conservative plan based on a $30 Million local cost rather than the optimal figure of approximately TWENTY FIVE MILLION and 00/100THS ($25,000,000.00) DOLLARS after state reimbursement (which would maximize the 75% state reimbursement on all eligible portions of the proposed renovation).  The $37 Million plan represents a worst-case scenario, if the state grants no waivers on the square footage / school population guidelines.

Microsoft Excel versions of the debt management plans for $30 Million and $37 Million, with supporting graphs, can be accessed here.  An itemized list of the Borough’s existing debt obligations, including maturity dates, can be viewed here.

The proposed project is subject to approval at public referendum to authorize bonding, said referendum to take place on Tuesday, November 8, 2011.  Polls open at the Naugatuck Train Station / Historical Society Museum at 6:00 AM and close at 8:00 PM on said date.

  • James Whitaker said,


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