$32.5 Million Bond Sale Finalized as Town Officials Warn of Tight FY27 Budget
Key Points
- Town completes $32.5 million bond sale at 3.416% interest to fund major municipal projects
- Town Administrator warns that FY27 budget pressures may necessitate a Proposition 2 1/2 override
- DPW reports critical staffing shortages with parks department operating 20% below 2008 levels
- Select Board approves $900-$1,800 daily fee structure for events at Parker's River Landing
- Board sends formal letter to state leadership supporting the audit of the Massachusetts legislature
Yarmouth officials solidified the town’s financial footing this week while simultaneously sounding an alarm regarding a looming fiscal crunch. Finance Director Jennifer Mullen announced the successful sale of $32,545,000 in general obligation municipal purpose bonds at a net interest rate of 3.416%. Mullen noted that this is probably one of our larger bond issues that we've gone out to market for in the most recent years,
covering various projects previously authorized by Town Meeting. Select Board Member M. Forest, acting as Clerk, formally read the borrowing details into the record. Motion Made by M. Forest to approve the sale, issuance, and details of the town's April 2026 general obligation bonds. Motion Passed 5-0
The successful bond sale was tempered by a sober discussion regarding the Department of Public Works (DPW) and the upcoming FY27 budget. DPW Director Jeff Colby reported that the parks division is operating with just five full-time staff members—a 20% decrease from 2008 levels—at a time when the town’s inventory of public lands and trails continues to grow. We're heading into the busy season... being down to five full-time parks staff people is very challenging,
Colby told the Board, noting a lack of seasonal applicants. Town Administrator Robert Whritenour warned that the strain may eventually force a difficult conversation with voters. We're doing everything we can right now to keep it underneath two and a half, but we're leaving a lot of the services that we demand on the sidelines,
Whritenour said. That is going to be something we're going to have to deal with.
Maintenance and revenue concerns also dominated the discussion of the new Parker’s River Landing park. Community Development Director Megan Eldridge presented a new event policy and fee schedule, proposing rates of $900 per day for nonprofits and $1,800 for for-profit entities during peak season. Eldridge noted the park was really built based on coastal resiliency,
and the Board approved a policy limiting loud events to twice per month. M. Forest voiced caution regarding the workload of managing the site, stating, I don't want our community development director all of a sudden finding herself in the midst of another full-time job... I want to see us be very focused on the revenue side.
Motion Made by L. Argo to approve the event space policy and license agreement for Parker's River Landing. Motion Passed 5-0
The Board also moved forward with several Community Preservation Act (CPA) recommendations for the upcoming Town Meeting. CPC Chair Judy Wilchinsky and Vice Chair Paul Huggin outlined articles including affordable housing commitments and restoration work for Crowell Pond. While most members supported the slate, individual conflicts led to abstentions. M. Forest abstained from the pond project due to his work with federal funding, and Chair T. Post abstained from historic preservation votes due to a work conflict. Motion Made by L. Argo to recommend Article 25 for Affordable Housing. Motion Passed 5-0 Motion Made by L. Argo to recommend Article 27 for Crowell Pond Restoration. Motion Passed 4-0-1
Public comment brought a variety of local tensions to the floor. Resident Harris Ktos urged the Board to pressure state representatives to support a public records law ballot initiative, arguing that Massachusetts law is the worst in the country.
Tom Nanal advocated for the $14 million state library grant, warning that we shouldn't lose that opportunity
after decades of neglect. On the other side of the ballot, Cheryl, Chair of the Yarmouth Republican Town Committee, criticized the Board for allowing politically driven
questions on the local ballot with minimal signatures, calling it a rhetorical trap.
The Board took a firm stance on state-level transparency, with L. Argo reading a letter to the House Speaker and Senate President supporting the authority of the state auditor to oversee the legislature. The Massachusetts legislature should not be exempt from independent oversight, especially regarding the use of taxpayer funds,
Argo read. Motion Made by L. Argo to accept and send the letter regarding the audit of the legislature. Motion Passed 5-0
Business activity along Route 28 is set to increase following two license transfers. Kevin Coffin and Jeff Engel secured approval for Jaclyn’s on 28, a family-style restaurant at the former Parma Italian Table site. I named it after my mother,
Coffin said of the scratch-kitchen concept. Chair T. Post clarified the entertainment boundaries, asking, This application for entertainment is for indoors only, correct?
confirming no speakers would be used outside. Nearby, Grantly Macintosh received approval to open Spice Boss at 908 Route 28, offering Caribbean-style cuisine. J. Flynn expressed local interest, noting, I live in South Yarmouth and I'd love to know what kind of spicy food we're speaking of.
D. McGurrin and other members supported the transfers, emphasizing the importance of filling vacancies on the Route 28 corridor. Motion Made by M. Forest to approve the liquor license transfer for Jaclyn’s on 28. Motion Passed 5-0 Motion Made by L. Argo to approve the license transfer for Spice Boss. Motion Passed 5-0