Littleton Select Board Dedicates Up to $8 Million to Sewer Project

LITTLETON — February 27, 2023 — Littleton Select Board votes to commit up to $8 million in state earmark funds to its sewer expansion project, avoiding a potential $34 million borrowing shortfall. The board voted 4-0 Monday night to dedicate the funds from Chapter 268 of the Acts of 2022 — originally tied to the King Street common development — after sewer project manager Corey Lawler warned that losing the State Revolving Fund loan, which carries a 1.5 percent interest rate, could drive total costs from an estimated $40.7 million to a scenario generating $34 million in additional expense over 30 years. The 550 King Street developer stood to save roughly $24.5 million in interest alone under the SRF scenario. "To save thirty-four million dollars in borrowing as a resident, I'd say nice job," said Board Chair Chuck DeCost. The board also heard a detailed presentation from Community Preservation Committee Chair Carola Mueller proposing to raise Littleton's CPA property surcharge from 1 percent to 3 percent — a change that could lift annual CPA revenue from roughly $470,000 to more than $1.5 million through expanded state matching — but took no vote on the matter.