Taxpayer victory!
Alternative financing isn't just an "alternative" anymore—it's an essential tool for meeting our federal energy goals. - US Department of Energy website
Well... it was an interesting capital budget discussion tonight.
The crux of my concern with the capital budget was not on the projects included in the budget, but how those projects are (or could be) financed. I've been advocating for a while now (most recently at the Council meeting only two weeks ago... in the midst of the capital budget discussions) that the town take a comprehensive look at our building infrastructure and consider an alternative form of financing (specifically, performance contracting) for energy efficiency projects.
Why?
Well, for instance, in this budget alone the taxpayers may have been able to avoid a cash outlay of $630,000... if we had considered performance contracting, but we didn't.
Regardless, while the Council had ignored my calls for consideration of these projects... tonight I was finally given public support. That means going forward, the Town will consider this form of financing for upcoming projects, such as:
1) the $1,900,000 "electric retrofit" at CHS,
2) a $4,500,000 "maintenance project" at the sewer plant and
3) $3,000,000 for a new fire house in the north end.
So it's entirely possible that projects such as these will never require a cash outlay from the taxpayers. Rather, their costs could be covered through money saved on energy efficiencies.
Bottom line... this is a victory for the taxpayers and the town! And I'd like to thank Mike Ecke for his public support! (Privately, I also received support from Elizabeth Esty... so a thank you to her too!)
While it's unfortunate that the Council had not acted sooner, so as to possibly be able to avoid a $630,000 cash outlay for the current year capital budget... I think this is a perfect example of how the Council can work together to bring new ideas to the table.
And if you're interested in learning more about "energy savings performance contracts," click here.
Tim White
Town Council, Budget Committee