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 established for that purpose under Article 16 of the 1998 Annual Town Meeting? (Majority vote required)
What it means: This fund helps pay for road work in metered doses, rather than all at once. Funds are saved for current and future maintenance and improvements to the roadways and associated sidewalks within the Town of Hampton. Approval is required by Town Meeting to Spend from this Fund.
Those in favor say: This fund helped to offset the costs of the recent repair of Lafayette Road, and is proposed to offset $500,000 of total costs if this year’s Article 9 (High Street Reconstruction) is approved. As of the end of 2021, the fund was valued at roughly $2.4 MM (but that may not reflect all committed dollars since the money is only withdrawn when the work is done and invoices against the project are paid.)
Those against say: No one spoke against this Article at the Deliberative Session.
Fiscal impact: A household valued at $400,000 will see a tax increase of $31.20 in 2022 if this Article is approved. Cost per thousand dollars of valuation is 7.8 cents in 2022.