Finance Committee backs $43 million water tank financing, $50,000 master plan funding

WESTON — October 30, 2024 — Weston Finance Committee endorses $43 million water tank financing and $50,000 master plan funding ahead of Dec. 3 special town meeting. The committee voted 6-1 to support the water tank article, with Zachary Sadek dissenting, after Select Board chair Tom presented a model relying on a $37 million, 30-year loan at 2.4 percent through the water enterprise fund, plus ARPA funds, free cash, and state grants. Construction is pegged at $32.5 million with a $5.5 million contingency. Member Lisa Reitano warned the structure pays "fixed costs with really variable income" given Weston's tiered water rates. The committee took no position on the 3A Housing Choice Bylaw, the ADU bylaw, and two related water tank zoning articles, with a Planning Board financial impact analysis from RKG Associates still 1-2 weeks away. A $30,000 budget fix passed unanimously.