NEW SHARON —  Voters will be asked Tuesday to consider financing a new fire station and Town Office building that engineers have estimated will cost $1.37 million.

Residents will be also asked to authorize the Select Board to use about $391,000 from different town accounts to offset the cost.

Of that amount, about $200,000 would come from the Fire Station Reserve Account, about $66,000 from the miscellaneous general fund and about $25,000 from the Dump Closure Account.

Voters will also be asked to appropriate $100,000 from the town’s general account with the funds from all accounts to pay toward upfront projects costs to reduce the debt burden.

The meeting is scheduled to begin at 6 p.m. at the  Franklin Masonic Lodge on Route 2.

A metal pipe wrapped in asbestos burst in October and temporarily closed the Town Office. There have been other issues with the building as well.

The principal cost for the building project is estimated at $982,400. Based on an estimated 3.45% interest, the estimated cost of the loan brings the project to $1.25 million, according to the town meeting warrant.

Residents will vote on whether they want to fund the project from proceeds of an interim bank construction loan of up to one year with monthly interest-only payments due; and then through a 10-year fixed rate loan with monthly principal and interest payments due, with the original note being renegotiated at the end of the 10-year term to extend to a 15- to 20-year amortization.

The total to be borrowed during the construction phase is not to exceed $982,400.

Voters will also consider authorizing the Select Board to negotiate and enter into agreements to secure financing for the construction phase and the initial 10-year financing for the partial reconstruction of the Town Office and new fire station, and to execute all necessary documents and make payments for fees and expenses associated with the project.

Townspeople will also consider allowing the board to award contracts for services associated with the project.

In addition, the board seeks permission to sell by sealed bid the current fire station, with the proceeds going toward the new building to further reduce the debt for the project.

Residents will also consider authorizing the board to negotiate a contract to lease the vestry of the New Sharon Congregational Church to include monthly rent, which includes space, heat, electricity and plowing, and to pay for internet and phone service as a temporary Town Office during construction of the new building.

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