Granby Details Financing For Schools, Library And Park Projects

GRANBY, CT — Granby could spread borrowing for five proposed capital projects across two years under a preliminary financing model prepared ahead of the town's Dec. 8 referendum.

A presentation from financial adviser Matthew Spoerndle of Phoenix Advisors, included with the Board of Finance's Oct. 26 meeting materials, models $21.45 million in total borrowing, including $19.45 million that would not be self-funded.

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The model assumes 20-year bonds and preliminary borrowing of $10 million in November 2027 and $9.45 million in November 2028. Its objective is to keep net annual debt payments at or below $1.8 million through fiscal 2032.

"The Town will adjust sizing and timing of the bond issues," the presentation states, to stay within that annual target. The schedule remains preliminary.

Voters will decide each project separately, according to the town's referendum notice. Voting is scheduled for Dec. 8 from 8 a.m. to 8 p.m. at Town Hall, 15 North Granby Road.

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The proposed questions included in the finance board's meeting materials outline:

• High school athletic fields: Up to $10.45 million for work on the stadium field, track, Field Two and baseball and softball fields.
• Middle school repairs and design: Up to $3 million for heating and cooling equipment, sprinklers, building-code work and further assessment.
• Granby Public Library: Up to $6 million in borrowing toward a $7.5 million renovation, with the balance funded through private contributions and grants.
• Sewer pumps: Up to $1.5 million for work on three pumps, with debt payments covered by sewer users through the sewer utility fund.
• Salmon Brook Park: Up to $500,000 for as many as four pickleball courts and a year-round bathroom, with debt payments covered by the Parks and Recreation Special Revenue Fund.

The sewer and recreation proposals account for the $2 million difference between total borrowing and the model's net figure.

The same town document lists an informational open house Nov. 14 from 10 a.m. to 1 p.m. and a town meeting Dec. 1 at 7 p.m., both at the Granby Senior Center.

For more Northern Connecticut news, follow Patch editor Jay Kenney.