The Milton Community Preservation Committee (CPC) signaled a major shift in how the town finances large-scale preservation efforts Monday, voting to back a $750,000 bond to revitalize Wharf Park in Milton Village. The decision marks a milestone for the committee as it seeks to leverage dedicated Community Preservation Act (CPA) revenues to fund infrastructure without impacting the town’s general operating budget or debt limit.

Town Treasurer Joanna McCarthy joined the committee to outline the mechanics of the proposed borrowing, explaining that a 15-year bond at an estimated 4.5% interest rate would cost the CPC between $70,000 and $80,000 annually. McCarthy emphasized the strategic benefit of this approach, noting, This is a great way of capitalizing on something that we could potentially already be doing with the town using your known revenue stream, which are your CPA surcharges. She further clarified that because the debt is serviced by a dedicated revenue stream, it doesn't impact the town's bond rating or bond cap. It's not competing with the general operating funds.

Chair Tom Callahan noted that the Wharf Park proposal is an ideal inaugural project for bonding as the committee anticipates more significant requests in the coming years. We anticipate future projects in front of us in the coming years that would be asking for an amount large enough for us to consider a bond, Callahan said. Member Robert Powers questioned the timing and process of the issuance, leading McCarthy to suggest that the CPC project could be wrapped into a larger town issuance this August or September to prorate administrative costs, which typically range between $50,000 and $100,000 for legal fees and transcripts.

The Wharf Park project itself was presented by former Park Commissioner Scott Day and landscape architect Bill Madden, who detailed design adjustments intended to save $56,000 in earthwork costs. By raising the grade of the central lawn area and utilizing a 4.9% slope, the team maintained ADA compliance without the need for expensive handrails. By manipulating the ground plane, we've essentially taken that circle and tilted it up, Madden explained. The project aims to transform a transactional part of Milton Village into a community destination.

Local proprietor Joshua Wild, who is renovating the nearby former Bank of America building, argued the investment would catalyze economic growth. One thing about Milton Village right now is that it's very transactional; there's really not a lot of reason to stay down in the village, Wild said, adding that as the area matures, the commercial tax base goes up. Member Cheryl Tougias echoed this sentiment, stating, I'm hoping this public investment will help the private sector.

However, the proposal was not without internal friction. Member Pete expressed significant reservations regarding the environmental impact and the transparency of the design process. I think there's been inadequate public process, he noted. I really think saving the tree, which is a healthy tree, is a big thing. It's hot and dry down there and this is just going to make it worse. Despite these concerns, the committee moved forward with the funding request. Motion Made by R. Powers to support the Wharf Park project for $750,000. Motion Passed (5-0-1), with Pete abstaining.

Member Steve O'Donnell raised concerns about the long-term management of such a complex project, especially given that the town has not yet filled its staff engineering position. The more the committee can help, the more beneficial it will be, he said, suggesting the committee needs to ensure proper oversight of the various private and public funding tranches. Day assured the committee that a dedicated group of volunteers would assist the Town Administrator in keeping the project on track, noting, There's a group of seven or eight of us who are going to be the ones responsible.

The committee also touched upon the upcoming May Town Meeting, where members will need to present at least three articles, including the new bonding authorization. Member Kathleen O'Donnell urged caution regarding the legal language of the articles. I would be suggesting that we be sending all of our articles to KP Law to have them be reviewed, she said, noting that bond counsel would also need to weigh in on the specific borrowing authorizations. Vice Chair Jenny Russell inquired about the status of the $500,000 in anticipated private donations for the park, asking, In terms of the half-million of other funding sources, do you need that in hand to be shovel-ready? The committee noted that while the town won't go to bid until resources are secured, the CPC's $750,000 commitment provides the necessary infrastructure foundation to jumpstart the work.

Finally, the committee discussed a lingering lack of administrative support. Callahan reported that no progress had been made on hiring a coordinator, a role previously held by a private contractor. Members of this committee shouldn't be expected to have to step in for this long, Tougias remarked, highlighting the administrative burden of managing the complex application and bonding processes without professional staff assistance.