Freeport voters approve one major purchase but reject another

Unofficial, early counts indicate that Freeport residents have approved the purchase of a new fire truck, but passed on the purchase of a property near City Hall.

Residents are so far rejecting the purchase of 22 Maine St. – the first local referendum question on the ballot, with 1,706 voting no and 1,258 voting yes so far. Freeporters show overwhelming support for the second question about purchasing a new fire ladder truck, with 1,645 yes votes and 872 no votes so far. The county clerk was still counting absentee ballots as of 11 p.m

Question 1 asked voters to choose whether to authorize the City Council to issue $500,000 bonds to purchase the undeveloped three-quarter-acre parcel at 22 Main St., which is adjacent to City Hall and is often the location for Makers on Main and other craft events. It is located across the street from the Public Safety Building.

The financing would have increased the city’s debt burden from $507,200 to $1 million, according to the Freeport treasurer’s financial statement in the election order. The statement also estimated that the total cost of the proposed bond would come with nearly $60,000 in interest at an estimated rate of 3.87% for a five-year term.

On Question 2, Freeports had to decide whether to adopt an ordinance that would allow another $1.5 million bond to be issued for a new fire department ladder truck. Although the City Council has not formally voted on the 22 Main St. bond, it voted unanimously to adopt the ordinance.

The treasurer’s statement noted that, with this demand, the city’s debt burden would increase to more than $2 million, if allowed. With an estimated interest rate range of 3.5%-3.87%, the bond would carry an estimated interest expense of $293,000 for a 10-year term.

The initial $507,000 debt balance the city must pay off is for bike and pedestrian paths near the DOT Freeport Bridge project at Interstate 295 exits 20 and 22, which is expected to be completed in 2025. The initial deposit for this debt has been secured. in 2021.

Jessica Maloy, the city’s chief financial officer, said all approved bond payments will be included in the fund’s general budget. She confirmed that there would be a tax increase for taxpayers. The current millage rate for the fiscal year (which runs from July 2024 to June 2025) is $13.35 per thousand dollars of property value.