What Happened To The Towns Policy Of
Pay As You Go?
Joan Caldwell The RTM District 10 Chair And Many Other RTM Members Argued That It Was Fiscally Unsound In These Economic Times To Fund The 2.3 Million Greenwich High School Request For Architectural Services For A New Auditorium.
Ms. Caldwell explained to a throng of button wearing parents, students and teachers that supported 2.3 Million purchase of architectural Services that the bonding costs in the Town Of Greenwich Had gotten out of hand.
Pay As You Go?
Joan Caldwell The RTM District 10 Chair And Many Other RTM Members Argued That It Was Fiscally Unsound In These Economic Times To Fund The 2.3 Million Greenwich High School Request For Architectural Services For A New Auditorium.
Ms. Caldwell explained to a throng of button wearing parents, students and teachers that supported 2.3 Million purchase of architectural Services that the bonding costs in the Town Of Greenwich Had gotten out of hand.
- In 2004, the single family home owners were responsible for a bond debt of $0
- In 2007, the single family home owners were responsible for a bond debt of $66 Million (Thank you Jim Lash, we appreciate it !!!).
- In 2009, the single family home owners were responsible for a bond debt of $87 Million. (Houston, I think we have a problem !!!)
- And in just 4 years (2012), the single family home owners were responsible for a bond debt of $200 Million. (Or as Robin would say, "Holy Interest Payment Batman !!!)
Many fiscally responsible RTM members argued that bonding for short term emergency repairs would be acceptable, but out of control bonding for new construction projects was going to start throwing Greenwich senior citizens out of there homes.
Karen Fassuliotis an attorney from RTM district 9 offered a compromise that the fiscally responsible members of the RTM overwhelmingly supported.
Ms. Fassuliotis made a motion that was seconded that would give the Greenwich public schools three quarters of a million dollars for for the GHS Architectural services.
After much passionate debate the $750,000 was rejected by the pig headed all or nothing Greenwich School Board Supporters.
It is foolish, for the Town not to be able to get High School Auditorium Drawings for $750,000 or less.
In the end 72 Fiscally Responsible RTM members lost to 115 RTM Spendthrifts and one Fence sitter who abstained.
Hopefully, the single family home owners will remember who the Fiscally Responsible RTM Members were when this Carnegie Hall East comes in over budget.
Hopefully, the voters of Greenwich will remember that the Fiscally Responsible RTM argued passionately that the same people involved with the Hamilton Avenue School Boondoggle are the key players in the 25 Million Dollar Greenwich High School Auditorium.
The mill rate for the single family home owners of Greenwich can no longer be kept artificially low by raiding the parking fund or by rolling everything into Big Ole Municipal Bonds.
Sooner rather than later, the single family home owners are going to have to pay the piper.
Ms. Fassuliotis made a motion that was seconded that would give the Greenwich public schools three quarters of a million dollars for for the GHS Architectural services.
After much passionate debate the $750,000 was rejected by the pig headed all or nothing Greenwich School Board Supporters.
It is foolish, for the Town not to be able to get High School Auditorium Drawings for $750,000 or less.
In the end 72 Fiscally Responsible RTM members lost to 115 RTM Spendthrifts and one Fence sitter who abstained.
Hopefully, the single family home owners will remember who the Fiscally Responsible RTM Members were when this Carnegie Hall East comes in over budget.
Hopefully, the voters of Greenwich will remember that the Fiscally Responsible RTM argued passionately that the same people involved with the Hamilton Avenue School Boondoggle are the key players in the 25 Million Dollar Greenwich High School Auditorium.
The mill rate for the single family home owners of Greenwich can no longer be kept artificially low by raiding the parking fund or by rolling everything into Big Ole Municipal Bonds.
Sooner rather than later, the single family home owners are going to have to pay the piper.
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