Rumors…

If you like Steak I might have some good news for you in the coming months. Stay Tuned.

True/False…

A Belmont transformer blew up after a 2nd EV Charge station was installed on a residential street. Apparently just two charging cars was enough to blow the system.

NDA’s and Executive session…

Any reader know what Open Meeting Law violation related to the School Committee the Select Board went into executive session to discuss?

FYI…

Police in Lowell are warning residents that bumper stickers on cars in the driveway tell would be thieves that you are likely to be away for the Summer or at sporting events.
I understand you can get Rottweiler and AK-47 stickers online. Highly recommend.

So, Let’s Talk Numbers….

Inflation is running above 8%. Heating Oil is over $5 a gallon or advanced lock in $4.79. Electricity rates are expected to surge 64% this winter in Massachusetts.

It gets worse. The 30-year Mortgage rate is 6.7%. The FED has stated more hikes are coming. National housing prices are expected to drop on average 10% (about $150,000 drop on average in Belmont) over the next 12-18 months.

The stock market is down 16% on the year.

And… the library cost just went up to $66,500,000 and could cross $70,000,000 if the FED keeps up its pace. Apparently, The Library DE (Debt Exclusion) will use a 30-year repayment cycle instead of the normal 15–20-year cycle for these types of projects adding $10,000,000 to the overall cost. (Note… these are estimates assuming a AAA Muni bond at 3.84% (today’s rate) applied to the $39.5m initial price tag). It is hard to imagine the AAA rate won’t be above 4% when the borrowing occurs. If I recall correctly, our town treasurer was already warning about our AAA rating being at risk.

More Numbers… rough but accurate and growing. Assumes Rink will also go 30yr term as well and a 4% rate on DE’s. Also assumes Spring Override of $8m. ASFH (Average Single-Family Home).

Didn’t include that Socialist CPA Fee… 1.5% surcharge so add another $200+ or 40 gallons of heating oil.
Crises of confidence is growing in Belmont Select Board.

Town and School employees are fighting tooth and nail for 1 to 2% pay raises while inflation is running 8%. If the Select Board negotiated as hard with proposed debt exclusions, I can assure you we would not have a Library that is 40% larger than the current one and the Rink project would not be buried with expensive alternative energy solutions, community rooms, and non-rink locker rooms. Typical “New Belmont” leadership… prioritizes material things over people. This shoot for the moon BS is ignorance on steroids and morally bankrupt to the times we are in.

Democrat or Republican…

Neither sounds good to me but that’s not a choice. As long as the American worker is intentionally disadvantaged by open borders and outsourcing, I will happily stay “unenrolled”. Attended a Belmont Teacher rally in the Spring and guess who wasn’t there? Senator Brownsberger and Rep Rogers. Apparently, Teachers are just as taken advantage of by politicians as the American workforce. Obviously… Adam, Mark, and Roy weren’t there. Maybe they were looking at color schemes for the massive Library annex.

The library voters are upset that the SB put the Rink DE on at the same time with the library. The Rink voters are upset the SB didn’t step in and get the privately financed rink approved in 2018. The school voters are upset the SB is waiting to put the Override for Town and School services on after the Debt exclusions knowing a successful DE before an Override doesn’t bode well for the Override. The rest of the Town is upset that the SB could even consider any tax increases as Armageddon has started and it’s only going to get worse.

Think it ends there? Belmont Emergency services were responding to a medical emergency Saturday and were delayed trying to navigate the insanity which is now Concord Ave. This new bike path design must go now. We are getting dangerously close to a loss of life event. It started with Driver side mirrors being clipped… then a bike on car collision… and now emergency services being delayed. The TAC is useless… and seem not to care.… demand the Select Board remove this awful design immediately. It doesn’t fit the road. (Note: Roy Epstein was against the path and doesn’t need to be contacted. Mark Paolillo and Adam Dash should be.) They allege they have heard few complaints.

Must delay the Class of 1986 story but it’s an important one for Parents of School kids. Ever wonder what happened to those playground kids who didn’t get their way so they “took their ball” and ran home crying? Pretty sure they are actively reporting Facebook posts today.

Not much humor this week so I recommend watching “Hubie Halloween”. Adam Sandler flick shot in Salem Ma.

Next up the BHS Class of 1986 and whatever the week brings.

Cheers,

PJ Looney

(Townie Talk combines facts, opinion, humor, and rumor, and is meant to provoke conversation on subjects affecting Belmont.)