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tummyman · 03-03-2023, 01:17 PM

I received this from a friend. It outlines the expected real costs for the proposed HUB Community Center over the 20 year financing period. You will note all of the numbers are exactly from the material that the HUB folks have provided, except for an estimate of the costs the HUB folks admitted will be needed but they have not included. There is also a note at the end that a modest 5% inflation of operating costs…salaries, insurances, benefits, utilities, etc. over that same 20 year period could add an extra $6-7 Million, bringing the overall cost to +/- $40 MILLION !!! Yikes !! As I learned from reading this material, the $15M bond request at Town Meeting is the tip of the cost iceberg for a facility that, in my opinion, has a questionable need. However, if it is approved, then all these numbers will flow to taxpayers annually. I have been told that lakefront properties will pay +/- 70% or more of the costs (based on assessed valuations) but only represent a very small portion of voters who may approve this project. Well worth the time to review this material.

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This Guest Commentary is the opinion of that writer. This sender email address is solely used to distribute that opinion.

Please share this information with neighbors, friends and Moultonboro voters. Town Meeting is Thursday, May 11th at 6pm.

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Don't be blindsided by the HUB bonding request of $15.3 Million. That is in no way representative of what this project is going to cost Moultonborough taxpayers.

The project as presented could easily represent a potential increase of +/- 20% or more to the ongoing Municipal budget !

Amount Borrowed (Bond) $15.5 Million The HUB numbers

Interest Payments (20 years) $ 8.9 Million The HUB numbers
_____________

Cost to finance ONLY $24.4 Million The HUB numbers….like your home mortgage payment

Annual Operating Cost ($320,000/year) $ 6.4 Million The HUB numbers (without inflation), reduced by revenue
_____________

Total $30.8 Million

Potential Added Operating Costs ($200,000 year) $ 4.0 Million….HUB folks admitted they didn't have all costs captured.
_____________

Potential Total for 0ver 20 years $34.8 Million

With 5% added inflation of Operating costs, these numbers could realistically eclipse +/- $40 Million over the 20 year period.

The $15.3 Million bond is just the tip of the iceberg that Moultonborough taxpayers are getting obligated to, if approved.

YOU NEED THE FULL STORY !!!!

03-03-2023, 01:17 PM	#294
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 779 Thanks: 233 Thanked 631 Times in 228 Posts	I received this from a friend. It outlines the expected real costs for the proposed HUB Community Center over the 20 year financing period. You will note all of the numbers are exactly from the material that the HUB folks have provided, except for an estimate of the costs the HUB folks admitted will be needed but they have not included. There is also a note at the end that a modest 5% inflation of operating costs…salaries, insurances, benefits, utilities, etc. over that same 20 year period could add an extra $6-7 Million, bringing the overall cost to +/- $40 MILLION !!! Yikes !! As I learned from reading this material, the $15M bond request at Town Meeting is the tip of the cost iceberg for a facility that, in my opinion, has a questionable need. However, if it is approved, then all these numbers will flow to taxpayers annually. I have been told that lakefront properties will pay +/- 70% or more of the costs (based on assessed valuations) but only represent a very small portion of voters who may approve this project. Well worth the time to review this material. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> This Guest Commentary is the opinion of that writer. This sender email address is solely used to distribute that opinion. Please share this information with neighbors, friends and Moultonboro voters. Town Meeting is Thursday, May 11th at 6pm. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Don't be blindsided by the HUB bonding request of $15.3 Million. That is in no way representative of what this project is going to cost Moultonborough taxpayers. The project as presented could easily represent a potential increase of +/- 20% or more to the ongoing Municipal budget ! Amount Borrowed (Bond) $15.5 Million The HUB numbers Interest Payments (20 years) $ 8.9 Million The HUB numbers _____________ Cost to finance ONLY $24.4 Million The HUB numbers….like your home mortgage payment Annual Operating Cost ($320,000/year) $ 6.4 Million The HUB numbers (without inflation), reduced by revenue _____________ Total $30.8 Million Potential Added Operating Costs ($200,000 year) $ 4.0 Million….HUB folks admitted they didn't have all costs captured. _____________ Potential Total for 0ver 20 years $34.8 Million With 5% added inflation of Operating costs, these numbers could realistically eclipse +/- $40 Million over the 20 year period. The $15.3 Million bond is just the tip of the iceberg that Moultonborough taxpayers are getting obligated to, if approved. YOU NEED THE FULL STORY !!!! Last edited by tummyman; 03-03-2023 at 01:20 PM. Reason: Format