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.