Nashua, New Hampshire Development News

City Committee Reviews Draft Debt Service Plan, Approves Projects Including DPW Garage and Library

The Joint Committee on Capital Expenditures and Debt Service Planning reviewed an updated draft debt service spending plan. The plan aims to maintain a baseline of approximately $25 million in annual debt service, adjusted for inflation, averaging around $30.5 million. This plan accommodates both approved and proposed bond authorizations, categorizing them as active, unauthorized but programmed, and unprogrammed/unauthorized projects. The committee discussed the programming of various projects including the DPW garage and fleet maintenance facility, library design, fire training facility, ERP system, pool rehabs, and a pedestrian bridge. They also addressed recurring costs such as surf and general obligation debt service for paving, capital maintenance for schools, and the fire department. The discussion included the timing of debt sales, the impact of project delays, and potential strategies for managing debt service to maintain budget stability. A proposal was made to return to the practice of filing a resolution to exempt capital project debt from cap calculations to aid financial planning.