Finance Committee approves Library/COA debt exclusion with 20-year declining payment plan
Freetown Finance Committee endorses 20-year declining debt service for $7.5M library/COA building. The committee unanimously backed the borrowing option, which projects first-year household costs of about $136 annually, declining over time and saving approximately $1.2 million in interest compared
Finance Committee · Meeting of April 29, 2026
Freetown Finance Committee endorses 20-year declining debt service for $7.5M library/COA building. The committee unanimously backed the borrowing option, which projects first-year household costs of about $136 annually, declining over time and saving approximately $1.2 million in interest compared to level debt service. Town Administrator reported the recently ratified teachers' union contract will cost the town $1,037,000 in FY27, $930,000 in FY28, and $1,130,000 in FY29, with raises spanning 16.8 to 25 percent over three years.
Building Commissioner Carl Bizarro's combined role will receive a stipend increase from $5,000 to $12,500 as a cost-avoidance measure, and the Board of Selectmen unanimously approved emergency demolition of a fire-damaged structure at 42 Water Street.
In the full story:
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Source: the Finance Committee meeting of April 29, 2026, compiled from the official minutes.
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