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Capital Improvements
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Capital Improvements Goal

Identify and plan for long term financial requirements to meet the costs of capital improvements.

The Town Needs To Plan and Save

Prudent planning includes financial planning. Few capital expenses come as a surprise. Everyone knows they will have to be handled someday. We should plan for them in advance.

Several financing mechanisms present themselves if we plan, rather than respond when a need becomes urgent. Bond issues, grants, building reserves from tax assessments, fees, and negotiations with developers are just a few of the alternatives to consider.

Planning for future recreation needs present a good example. We recommend the town develop a long term recreation plan with a supporting capital budget that considers additional ball fields, parks in the population centers, a boat launch, a multipurpose community center, and bike and rail trails.

By identifying the capital requirements for the various components of the plan and building a matching fund for grant applications, the town will be prepared to apply for grants to cover the majority of the costs and negotiate with developers for land set-asides, if appropriate.

You will find specific recommendations for capital planning in the following sections: