PFIC Proposal

I’ve obtained a copy of the PFIC Proposal.  They only proposed doing the full $4 million restoration for a fixed annual lease price of $393,534.  That’s a total cost of $7.9 million over 20 years. By comparison, the $4 million project financed with municipal bonds that was rejected by the voters last year would have cost an average of $280,000 per year and cost a total of $5.6 million over 20 years. So the Sale/Lease Back as proposed would increase the cost by about 40%.

I’ll be curious to see if this gets serious consideration at the Selectmen’s meeting next Thursday.

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