Dr. Laurie Hunter, Superintendent of Schools and Town Manager Kerry Lafleur made a presentation on the Town’s Tier III, “Large Capital” needs for the planning period of FY24 – 33.  Tier III capital projects are defined as any project with an estimated cost of $5,000,000 or more in either a single year or phased over two or more years.  Tier III projects are assumed to be funded through the issuance of debt outside of the Proposition 2 ½ Levy Limit.  As such, in addition to requiring approval at Town Meeting, these projects are also subject to a voter-approved debt exclusion (ballot election) which results in an additional tax impact throughout the life of the associated bond issue.

The FY24 – 33 Tier III Capital Plan will be reviewed by the Finance Committee on November 10, 2022.  A copy of the plan is available at:  https://concordma.gov/2895/Capital-Planning

The Town seeks public comment on Tier III Capital Projects and estimated tax impact through Wednesday, November 30, 2022.  Please send your emailed comment to:  tmo@concordma.gov or to:  Town Manager’s Office, 22 Monument Square, Concord, MA  01742.