Dear Saco Citizens,
We hope you find the information included in this letter to be informative and helpful about three local bond questions included on the November 7th election ballot in Saco.
- Improvements to City Facilities, Roads, Drainage, and Infrastructure: Ocean Park Road Area Drainage System Replacement, Police Station Roof Replacement, City Hall and Parks & Recreation HVAC Systems, Saco Middle School Baseball Field, Foss Road Recreational Site Improvements, Lincoln St. Utility, Sidewalk, & Roadway Reconstruction, and Camp Ellis Area Coastal Erosion Protection.
These seven projects would result in an annual bond payment of $130,000. My promise to Council was that if approved, the Capital Plan Committee would submit a Capital Program budget that is reduced by $130,000, which is equal to a net zero impact on the tax rate.
If this is not approved, these projects will increase the budget by $400,000 for the next five years to cover these needed costs, an increase of nearly $40 to a home valued at $213,000.
- Relocation of the Public Works Facility and Redevelopment of the Existing Site along the Turnpike: If approved, this bond, along with the proceeds of the sale of the property, would be used to move the Public Works facility to the industrial park. The current location is not adequate to handle today's staffing level or the size of our equipment, plus the existing site would make an ideal taxable commercial property.
There is nearly $500,000 of annual debt service payments ending in the next two years. The new facility would require slightly less than this. When the payments end, they could be replaced with the bond payment for the new facility - again, no impact on the tax rate. This does not take into account the future tax value the current site could generate.
If the bond is not approved, these projects will increase the budget by $800,000 for the next five years to make repairs and modifications to the current building. This, plus the retiring debt would show an increase of just over $30 to a home valued at $213,000.
- Route One Utility and Sidewalk Improvements: Sidewalk Construction & Pedestrian Safety Improvements and a Sewer Extension to Incentivize Commercial Development for a total of two and a half million. If approved, the City would not look to borrow money until we knew we had business interested in the area. Any future growth / tax value would offset the annual debt payment.
If this is not approved, these projects will increase the budget by $100,000 for the next five years to cover the sidewalk portion, an increase of nearly $10 to a home valued at $213,000.
To reiterate, approval of the three bond questions will allow the City of Saco to move forward with some much needed repair and enhancements to our growing community with a zero increase on the tax rate. If you have any additional questions about this topic, please visit
or call (207)284-6641.