Finance Director says bond New Milford turf fields
NEW MILFORD — Director of Finance Ray Jankowski has recommended bonding to cover the $4 million cost estimated for the installation of two artificial turf fields, a new track and lighting at New Milford High School.
Jankowski said the town would then pay off the borrowing with money from the Waste Management Settlement Fund. Paying for the work that way would bring less impact on the Waste Management Fund balance each year and allow more of the fund to be available for tax relief in accordance with fund requirements. It would not impact the taxpayers.
The balance in the Waste Management Settlement Fund is $7 million. By fund requirements, 10 percent of that balance can be drawn for tax relief in a given budget year.
The Town Council Oct. 13 approved moving forward with funding the project. A special town meeting will have to set for voters to approve the spending. The project is now before the Zoning Commission with a continuance of that public hearing on Oct. 27 at 7 p.m. in Town Hall.