’26 Article 11 – Aerial Ladder Fire Apparatus via Long Term Lease/Purchase – $1,800,000

To see if the Town will vote to authorize the Select Board to enter into a long-term lease/purchase agreement in the amount of $1,800,000 payable over a term of seven annual payments for the purpose of acquiring an Aerial Ladder Fire Apparatus and all related equipment, and to raise and appropriate the sum of $308,712 for the first year’s payment for that purpose. (3/5^ths Ballot vote required)

What it means: The Town would enter into a seven-year lease for the fire equipment; at the end of this time, the Town would own the ladder truck. Because the Town would enter into a multi-year arrangement (essentially obligating future groups of taxpayers), a 60% approval by the voters is required by state law.

Discussion: The ladder to be replaced is a 2006 vehicle, with a 20-25 year life expectancy.  It takes two to four years to order and receive the new vehicle.  The current vehicle is costing more to maintain and has corrosion issues due to our marine environment.  If approved by Town Meeting, the Fire Chief would search for the best vehicle to meet the needs of the Town.  The maximum budget is the $1.8 million that is listed.

The current ladder truck cost taxpayers $135,000 in repairs in the last five years alone and over $375,000 over the 20-year ownership span.

Fiscal impact: The estimated tax rate impact in 2026 for first lease payment is $0.05 per thousand. The estimated tax impact for a home valued at $600,000 is $30.41.  This obligation would continue until 2032.