Voters Approve Additional $5.8 Million for Bancroft School Construction
Andover Special Town Meeting voters approved $5.8 million to fund the further construction of the Bancroft Elementary School.
With the Bancroft Elementary School now 25 percent complete, Special Town Meeting Monday night gave the green light for spending $5.8 million more on the $44.6 million school project.
The town needed more funding for the school project in order to cover unanticipated legal fees as well as higher than anticipated costs for certain stages of construction.
The Town is receiving $16.7 million from the Massachusetts School Building Authority for the project in the form of a grant.
Largely being funded through a debt exclusion, the $5.8 million approved Monday night should increase the average residential taxpayer's bill by $24, with the entire school project costing a $181 increase in the average residential taxpayer's bill.
Several residents spoke for and against the single article on the warrant, some saying that the vote should be delayed.
Read a full article about Monday night's meeting tomorrow morning at 6 a.m.
Lisa.Grecoe9@gmail.com
9:34 pm on Monday, February 11, 2013
Thrilled with the vote
Andovahhh Resident
9:59 pm on Monday, February 11, 2013
Yes, the Finance Committee estimates the full cost of the Bancroft construction project will translate to $181 increase in taxes for the average single-family home. But it's important to note that in December 2010 that estimate was for a $179 average tax increase.
So while an additional $5.7 million has now been allocated to the project (the $24 mentioned above) we're only talking a total difference of $2 because interest rates have gone down since the original Bancroft warrant article was passed in 2010.
Even with this additional money allocated at tonight's town meeting, the school's impact will now be almost exactly the same ($181) as was anticipated back when the school was initially approved by Andover voters at the lower total price ($179).
Christopher R. Cook
10:31 pm on Monday, February 11, 2013
happy with the vote...but in all seriousness...does it bother any residents that around 300 or so people just decided the fate of a town of over 30K
this form of gov sometimes makes me question its effectiveness
and to the person who wanted to delay it
why would you want to add another possible 2 million in construction costs by delaying it again
what else did you expect to happen between now and the annual town meeting...Andover to magically find 7 million dollars...MSBA wasnt going to give us anymore
since we are a good school district we wont get any other federal or state aid