Shall the Town of Hampton vote to raise and appropriate the sum of $15,700,000 for the purpose of reconstructing High Street and Winnacunnet Road to include upgrading and replacing sewage and drainage systems, and replacing sidewalks, curbs, pavement treatments and other necessary improvements, said costs to include bid documents, the bid process, construction, and construction administration. Reconstruction of the roadway may include traffic calming structures or other improvements to assist in controlling the speed of vehicles. The application of final new pavement may occur in the year following the installation of the sewer and drainage upgraded and replaced systems to allow for the proper settlement of the excavated roadbeds; and
$13,700,000 of Such sum to be raised by the issuance of bonds or notes for a period not to exceed thirty (30) years under and in accordance with the Municipal Finance Act (RSA 33); and
To authorize the withdrawal of $1,000,000 from the Road Improvement Capital Reserve Fund and $1,000,000 to come from the Unassigned Fund Balance; and
To authorize the Board of Selectmen and the Town Treasurer to issue, negotiate, sell and deliver such bonds or notes and to determine the rate of interest thereon and the maturity and other terms thereof in accordance with the Municipal Finance Act (RSA 33); and
To authorize the Board of Selectmen to apply for, contract for, obtain, accept and expend any Federal, State or other available aid or funds toward the project in accordance with the terms and conditions under which they are received and to comply with all laws applicable to said project and to borrow in anticipation of the receipt of such funds and or the issuance of such bonds or notes as provided in the Municipal Finance Act (RSA 33); and
To authorize the Board of Selectmen to implement such cost-effective solutions as are presented in the future that they deem to be in the best interest of the Town that may result in a lesser amount of expenditure than is authorized by this warrant article; and
To authorize the Board of Selectmen to take any and all actions or to pass any other vote necessary to carry out the project in the best interest of the Town of Hampton? (3/5ths vote required)
What it means: Passage of this Article, which requires a 3/5th vote (60%), would authorize the reconstruction of High Street and Winnacunnet Road. Such reconstruction would include repair and replacement of sewer and drainage pipes; sidewalk repairs, replacement and construction; and roadway paving. The project would be completed over multiple years (least impact) with identified traffic control plans, and with no intention to close either road from end to end. The total cost of the project is $15,700,000. $1,000,000 would be withdrawn from the Road Improvement Capital Reserve Fund and $1,000,000 would be withdrawn from the Unassigned Fund Balance. The Article authorizes the Board of Selectmen to issue and negotiate notes or bonds for the balance of the project, $13,700,000 for a term not to exceed 30 years and to apply for any Federal, State or other available aid towards the project.
Those in favor say: Both roads are in need of the improvements, and evidence was provided at Deliberative Session of road cracking, broken and corroded drainage and sewer pipes, sidewalk and drainage concerns. This project includes the High and Mill Street intersection improvements approved in 2020. There is value in addressing both High Street and Winnacunnet Road at the same time due to the size and scale of the project in bidding to larger contractors. Current interest rates are low and construction costs not likely to decrease.
Those against say: No one spoke against this Article at the Deliberative Session.
Fiscal Impact: If a bond ($13,700,000 for 30-years at 3.5%) is issued in 2021, a Hampton home valued at $400,000 would be assessed an additional $89.60 in taxes in 2022 for the life of the bond. (To arrive at your specific tax impact, divide your property assessed value by 1,000 and multiply by .224).