Follow Up Q&A from the January 17, 2025
Q: During the January 17th PFAC meeting, Colliers reviewed their project schedule (see time stamp 46:50ish) and referenced a May, 2026 Town meeting for identifying the $1.1M work that would have been completed (assuming the article on the warrant is passed at the 2025 March town meeting) and, assuming the Town passes an article on the warrant for construction at the 2026 town meeting, that the building construction period would begin next May, 2026 (FY 2027) for 12 months.
Unless there is a plan to change the month New London holds its Town Meeting, does the Collier project plan still apply with a March town meeting date. Can all the activity highlighted for the FY 2026 requested $1.1M and construction activities the following fiscal year occur given a March Town meeting and the availability of funds in July of each year (when the fiscal year begins)?
Does Colliers' project timeline and cost escalation factors account for the activities necessary to secure the funds (e.g., Bond Bank loan application / processing) that would need to occur before the $1.1M work starts and the subsequent year construction can begin?
A: The Selectmen will use the 2 1/2 months from Town Meeting to July 1 to work with the PFAC to select vendors for the site and design work, and will close on the land purchase in July .Financing will be determined by the Selectmen as the year evolves - there is adequate cash flow to pay vendors until a financing decision is made. Timeline for steps beyond that appropriated next month will be determined as results of site and design evolve.