SANFORD — Voters June 10 will get the chance to cast a ballot on a $1.5 million bond to upgrade school buildings ”“ improvements that, according to municipal officials, will generate enough energy savings over time to pay for at least half of the project.
The school buildings need work such as new windows, upgraded HVAC systems, lighting and thermostats. A new roof is needed at Sanford High School, which is expected to be used by lower grades in the near future, after a new high school building is constructed.
Sanford has been placing money in a capital improvement plan for the schools, as it has for municipal capital needs annually, but with the amount of work to be done, it was felt that a bond would be best.
City Treasurer Paula Simpson estimated an average 1.8 percent interest rate over the life of the 10-year bond, starting at about 1.3 percent and winding down at 2.5 percent. Interest is estimated at $166,760 over the life of the bond.
“Rates are great right now for borrowing. We still have very low debt,” said Simpson, who estimated Sanford’s total debt at less than 2 percent of the budget.
Deputy Mayor Maura Herlihy pointed out that the energy savings over time would essentially save the town about half of the $1.5 million it is requesting.
Councilor Fred Smith said doing the work now will also save on annual maintenance costs.
The city’s budget committee, which endorses the proposal, has been looking at sustainability, said Councilor Alan Walsh. He also asked if the projected savings might be more than initially calculated.
Mark Powers of Trane, a Westbrook-based engineering firm contracted to provide services to Sanford schools, said savings estimates and scope of work will be more clearly defined in the coming weeks, and that the savings will be guaranteed.
“Bottom line,” he said, “it is a good project for you to do.”
The five councilors present agreed; Councilor Ken Burgess and Mayor Tom Cote were absent.
— Senior Staff Writer Tammy Wells can be contacted at 324-4444 (local call in Sanford) or 282-1535, ext. 327 or twells@journaltribune.com.
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