ARTICLE 10 -- 23 WASHINGTON STREET

Article 10 on the Town Meeting warrant is to authorize the purchase of a 2.17 acre parcel that abuts Town Hall and the Town "campus" that also includes the Police Station and Library. Advisory Committee has recommended "no action" on this article. They (at least the majority on a 6-3 vote) contend that the Town's current fiscal condition does not allow it. Furthermore, they point out that there is presently no plan for future use of the property, and when there is, it will result in substantial addiitonal expenditures. Finally, they contend that the purchase price of $495,000 is above the appraised value of $465,000.

The Advisory Committee position is shortsighted. The three members in the minority do grasp the long-term benefits of this purchase.I guess the difference between an Advisory Committee and Planning Board (or Planner) is that Advisory has a short term view while planning has a long term view. I think that failure to acquire this property now, when it is available, hurts the long term interests of the Town.

The purchase price of $495,000 will very likely appear to be a bargain in the not-too-distant future. Just last Fall, the appraised value was about $80,000 more than it is now. Of course property values have dropped in recent years, but they are likely to begin to rise again shortly (they always have!). Furthermore, the cost could be handled by a 1-year tax rate increase of about 43.5 cents. For the average house assessed at $770,000, that would result in a one-time cost of about $335 added to the average tax bill of $12,000 -- a 2.7% increase. [It should be noted that there are leftover funds of about $225,000 from other projects that are proposed to be used to offset the cost of this land. Only $270,000 more is needed, which would require a tax increase of just 25 cents and a one-time payment for the average house of about $192, but since those leftover funds could be used for other purposes, I thought a fair analysis should consider the entire cost]

As for additional costs for future improvements, those would have to be approved by the Town first. If the future improvements are deemed worthy and would provide a valuable role in improving Town services, it would likely be more cost effective and efficient to make those improvements on an expanded Town campus than on another site that the Town does not yet control.

The argument that there is no firm plan for future use of the site also falls flat. The point of long-range planning is to keep options open and to provide the flexibility to adjust and respond to future needs. Adding those 2.17 acres to the Town campus does exactly that.

Regarding the current fiscal condition of the Town, this is a once in a generation (or maybe once in 3 or 4 generations) opportunity. It is available now and the Town must act. As a debt exclusion, the purchase will not detract from other Town needs (with the exception of the $225,000 of leftover funds that could be used for other purposes).

Opportunity is knocking. Will Sherborn answer the door?