Peabody To Use Manchester Revenue Bonds For Expansion
July 28, 2016 at 4:25 p.m.
NORTH MANCHESTER - Peabody Retirement Community was approved to use North Manchester's revenue bonds to get a lower interest rate and tax exempt status for its project to expand services and living units.
The town council Thursday followed North Manchester Economic Development Commission's recommendation.
Executive director of Peabody Retirement Community Jim Ransomer said 15 more jobs should open. During construction, 200 jobs should be available.
Peabody will have up to $53 million available under the town's status. Ransomer said at the NMEDC meeting that projected costs would reach about $49 million.
The retirement community will add three new services: a health care facility, assisted living facility and a memory support center.
In another matter, the council approved changes to the weed ordinance. Homeowners with overgrown lawns will receive only one notice of a violation in a calendar year. After the notice, the town will mow the lawn at $100 per hour.
In an unrelated matter, the council approved an ordinance that created a "Rainy Day Fund."
The clerk-treasurer will put unused tax money into the fund. Stashing the dollars keeps the state from reducing the town's budget amount or taking money from its operating balance, clerk-treasure Nancy Reed said.
No more than 10 percent of the town's total fiscal year budget can be transferred into the fund.
In an unrelated matter, the council approved the appropriation of $68,000 for the parks and recreation department for repairs in the community pool facility.
The pool will be relined to stop water leaks. Also, the pool facility water system will be rerouted after a water heater broke earlier this year.
Superintendent of Public Works John Mugford presented the council a plaque for 50 years of service with the American Water Works Association, a national honor.
The council's next meeting is Aug. 12 at 7 p.m. in the Public Safety Building. The council also will hold a public budget presentation meeting July 30 at 7:30 p.m. in the Public Safety Building. [[In-content Ad]]
NORTH MANCHESTER - Peabody Retirement Community was approved to use North Manchester's revenue bonds to get a lower interest rate and tax exempt status for its project to expand services and living units.
The town council Thursday followed North Manchester Economic Development Commission's recommendation.
Executive director of Peabody Retirement Community Jim Ransomer said 15 more jobs should open. During construction, 200 jobs should be available.
Peabody will have up to $53 million available under the town's status. Ransomer said at the NMEDC meeting that projected costs would reach about $49 million.
The retirement community will add three new services: a health care facility, assisted living facility and a memory support center.
In another matter, the council approved changes to the weed ordinance. Homeowners with overgrown lawns will receive only one notice of a violation in a calendar year. After the notice, the town will mow the lawn at $100 per hour.
In an unrelated matter, the council approved an ordinance that created a "Rainy Day Fund."
The clerk-treasurer will put unused tax money into the fund. Stashing the dollars keeps the state from reducing the town's budget amount or taking money from its operating balance, clerk-treasure Nancy Reed said.
No more than 10 percent of the town's total fiscal year budget can be transferred into the fund.
In an unrelated matter, the council approved the appropriation of $68,000 for the parks and recreation department for repairs in the community pool facility.
The pool will be relined to stop water leaks. Also, the pool facility water system will be rerouted after a water heater broke earlier this year.
Superintendent of Public Works John Mugford presented the council a plaque for 50 years of service with the American Water Works Association, a national honor.
The council's next meeting is Aug. 12 at 7 p.m. in the Public Safety Building. The council also will hold a public budget presentation meeting July 30 at 7:30 p.m. in the Public Safety Building. [[In-content Ad]]