Article 15: Road Improvement Capital Reserve Fund – $300,000

Shall the Town of Hampton vote to raise and appropriate the sum of $300,000 to be added to the Road Improvement Capital Reserve Fund created under Article 16 of the 1998 Annual Town Meeting in accordance with the provisions of RSA 35 for the purpose of maintenance and/or reconstruction of streets? (Majority vote required.)

 What it means:  This fund helps pay for road work in metered doses, rather than all at once.

Those in favor say: This fund helped to offset the costs of the recent repair of Lafayette Road, and is proposed to offset $1 MM from the upcoming work on Winnacunnet and High Streets. As of the end of 2020, the fund was valued at roughly $2.3 MM.

Those against say: No one spoke against Article 15 at Deliberative Session.

Fiscal impact:  A household valued at $400,000 will see a tax increase of $31.60 in 2021 if Article 15 is approved.  Cost per thousand dollars of valuation is 7.9 cents in 2021.