Finance Committee backs $31.9M capital budget with major borrowing plan.
Finance Committee unanimously approved a $31.9 million capital budget with $29 million in new borrowing for PFAS remediation, Rotunda restoration, and Central Street Culvert work. Finance Director Andrea Mainville projected tax rate increases to $9.05 with full debt service, a 2.18 percent
Finance Committee · Meeting of March 5, 2026
MANCHESTER BY THE SEA — Finance Committee unanimously approved a $31.9 million capital budget with $29 million in new borrowing for PFAS remediation, Rotunda restoration, and Central Street Culvert work. Finance Director Andrea Mainville projected tax rate increases to $9.05 with full debt service, a 2.18 percent first-year rise, with peak debt load reaching $33-34 million by fiscal 2028. The committee also advanced a $960,039 DPW Sanitation budget reflecting the industry-wide shift to automated collection; the Town currently generates $300,000 annually from bag sales revenue that will be lost under the new system.
Separately, the Committee approved $594,200 in Community Preservation Committee projects, an $11,500 Emergency Management Budget including a $15,000 baseline drone survey for FEMA claims documentation, and a $1,171,144 Debt Service Budget covering existing municipal obligations.
In the full story:
- The complete report — 542 words
Source: the Finance Committee meeting of March 5, 2026, compiled from the official minutes.
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