Agenda: https://grimsby.civicweb.net/filepro/documents…
Public Works Minutes Discussion
Mr. LeRoux presented a few details of the $8M ($5M with “other projects”) Winston Road reconstruction. Costs will be covered through Development Charges (92%), outside contributions ($1.3M) and $600K from the Town. Since DC’s won’t all be received at the time construction starts this June, short term borrowing will need to be put in place with interest payments charged back to DC’s. Potential of 5-8 years to recoup the costs in a “hot” market, and up to 20 years if things slow down (highly probable). Apparently Public Works does not expect too many “extras” and has set aside a small contingency ($100K) for possible overruns.
