LIVERMORE FALLS — Residents will decide next month whether to borrow up to $420,000 to build a one-bay fire substation in the East Livermore village section of town.
Article 22 on the town meeting warrant will be voted on at the polls at the Fire Station on April 23 from 8 a.m. to 8 p.m.
A petition signed by 110 registered voters requested an article be put on the ballot in 2020. It called for selectmen to secure a site and provide for construction of a substation for one firetruck within a mile of Park Street/Route 133 and Leeds Road/Route 106 intersection.
Voters approved building the station in November 2020 in a 992-399 vote.
Just over an acre on state Route 106 was purchased by the town for the new station. It was finalized in 2023.
However, residents and town officials didn’t realize until last year that there was no funding attached to the 2020 warrant article.
This year’s article authorizes selectmen to enter a lease purchase or finance agreement for up to 20 years, with payments from taxes not to exceed $20,000 per year. Approval would allow the town to borrow up to a $420,000 for planning, engineering, design, permitting and construction of the substation. It would include a well and other related work.
Town Manager Carrie Castonguay received the estimate from Plymouth Engineering of Newport.
The estimated debt service at 3.76% interest over the 20-year loan, would be about $595,246.58, according to Castonguay’s information. That’s based on $420,000 in principal and an estimated $175,246.58 in interest.
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