1997-10-20-AC-REPORT.pdf - Laserfiche WebLink

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APPROPRIATION COMMITTEE REPORT TO OCTOBER 20 SPECIAL TowN MEETING RECOMMENDATIONS SUMMARY ARTICLE 2: REMODELINGIRECONSIRUCTION OF TOWN SCHOOLS By unanimous vote, the Appropriation Committee recommends that Town Meeting: • Appropriate 70.9 million to carry out Phase 1 of the School Building Project as voted by the School Committee on October 7, 1997. • Authorize borrowing to finance the $70.9 million Phase 1 project cost. Please refer to the detailed report beginning on page 4. ARTICLE 3: LIBRARY CONSTRUCTION By unanimous vote, the Appropriation Committee recommends that Town Meeting: • Appropriate an additional$1,050,000 to construct, reconstruct, repair, and equip Cary Memorial Library. This additional appropriation will allow the Library to add 5,000 sq. ft of badly needed future expansion space and to renovate Cary Hall for use as an interim library during construction. When added to the$7,850,000 1996 Town Meeting appropriation, the two appropriations will cover the$8.9 million total project cost. The Town's$2.4 million share of project costs will not increase; the Library Trustees have voted to increase their support. Outside sources will fund over 70% of the Library Project. Town Borrowing $2.4 million State Grant 2.8 million Trustees' Funds 3.7 million Library Project Total $8.9 million Annropriation Committee Report Page"of 13 October 13. 1997