New idea for road maintenance

Citing the deterioration in road conditions, Selectman Tom Hurley has a new idea for managing maintenance. Rather than use the town’s Chapter 90 money from the state directly on road maintenance, Hurley suggested the town take out a 15-year loan and perform the equivalent of 11 years of road work in one year. Meanwhile, the town would put the money it receives from Chapter 90 into an interest-bearing account and pay down the loan. According to Hurley’s calculations, money would have to be placed into the account for only the first 10 or 11 years, based on a 2 percent interest rate on the loan and a 1.5 percent interest rate on the interest-bearing account. Department of Public Works Director Joe Lynch said he appreciated the idea and that it might work, but that more research was required.