Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Investment Steps for Beginners to Move Smoothly from Core Mutual Funds to Fractional Shares|コロ
    • Major Crypto ETFs Bled $1.5 Billion While Wall Street Went Dip Shopping
    • Desjardins Investments Makes Changes to Its Mutual Fund and ETF Lineup
    • [2026 Latest] Are JGBs for Individuals Changing Significantly? 20-Year Bonds, Compound Interest Types, and Lower Minimum Purchase Amounts Under Consideration! System Revisions That Those Aged 60 and Over Should Know
    • Buy 3 Easterly Mutual Funds With Distinct Investment Strategies (Revised)
    • Winners crowned at Funds Europe Awards 2026
    • Is Matthews India Fund (MINDX) a Strong Mutual Fund Pick Right Now?
    • Is Kinetics Paradigm Fund No Load (WWNPX) a Strong Mutual Fund Pick Right Now?
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Scarborough Town Council considers nearly $8M in bonds
    Bonds

    Scarborough Town Council considers nearly $8M in bonds

    August 28, 2024


    The Scarborough Town Council will decide next week whether to send three bond orders to the November ballot for referendum votes, the most highly debated being replenishing the town’s land acquisition fund with $6 million.

    Public hearings were held on the three bonds last week; $996,000 for body and cruiser cameras for the Police Department; $1 million for a new pumper truck for the fire department; and the replenishment of the fund.

    The land acquisition fund is used to help organizations and individual residents acquire and conserve land. These entities apply for funding and their requests are vetted and scored by the Parks and Conservation Land Board, which then provides a recommendation to the Town Council for final approval. Voters created the $1.5 million fund in 2000. In 2003, voters replenished it with $2.5 million; in 2009 with $1 million; and in 2019 with $2.5 million.

    While some residents support the $6 million proposal, others take issue with the amount or don’t think the town should have a land acquisition fund at all.

    At the public hearing, resident Alyson Bristol said with other hefty investments on the horizon, such as a school solution and a potential community center, “now is not the time to bond more, especially at the tune of $6 million.”

    While any organization or community member can apply for funding, the Scarborough Land Trust has done so routinely.

    “While I appreciate their good work, at this moment in time, I’d like to see the town support (the land trust’s) work in some other less expensive way,” Bristol said.

    Resident Sue Hamill said people who don’t want to bear the burden shouldn’t have to. With the land trust being a frequent user, she argued those looking to contribute to the nonprofit’s efforts can make donations.

    “I believe that the funding model that we’ve been using in Scarborough is not fair to the taxpayers and it’s not fair to the Scarborough Land Trust,” Hamill said, later adding, “Please don’t put this on the backs of taxpayers.”

    Andrew Mackie, director of the land trust, said the fund has contributed to a long list of the nonprofit’s acquisitions, such as Broadturn Farm, Warren Woods and Blue Point Preserve. However, they don’t get access to that funding without approval of the board and the Town Council.

    Scarborough Land Trust conserved Blue Point Preserve with funds from the town land acquisition fund. Contributed / Scarborough Land Trust

    “I’d like to make clear that the land bond is a town program with a committee that makes funding recommendations to the Town Council, with the council reviewing, holding public hearings and making final funding decisions,” Mackie said.

    He emphasized that the town is just one partner in those acquisitions, with the land trust also working with the Maine Farmland Trust, Scarborough Historical Society, Department of Inland Fisheries and Wildlife, Friends of Scarborough Marsh, and other organizations.

    “I want to ask councilors, the individuals in this room and everyone watching from home to think what the town would be like without places like Broadturn Farm, Comstock Farm, Frith Farm, Warren Woods, Blue Point Preserve, Pleasant Hill Preserve, Beech Ridge School House, beach access at Higgins Beach and the Gervais property,” Mackie said. “Imagine these properties were not conserved and turned into other uses.”

    Town Manager Tom Hall noted that councilors could make amendments at their final vote on Wednesday, such as changing the amount to be replenished.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    [2026 Latest] Are JGBs for Individuals Changing Significantly? 20-Year Bonds, Compound Interest Types, and Lower Minimum Purchase Amounts Under Consideration! System Revisions That Those Aged 60 and Over Should Know

    November 12, 2026

    If asked, ‘The Nikkei says life insurance accounting rules are changing, will they buy more government bonds?’—Life insurers, who sold 2 trillion yen net last winter, have been net buyers since spring

    November 11, 2026

    Morgan Stanley favors hyperscaler bonds amid AI debt worries

    November 11, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Mercedes halts German investments – POLITICO

    November 12, 2026

    Winners crowned at Funds Europe Awards 2026

    November 12, 2026

    Major Crypto ETFs Bled $1.5 Billion While Wall Street Went Dip Shopping

    November 12, 2026

    Investment Steps for Beginners to Move Smoothly from Core Mutual Funds to Fractional Shares|コロ

    November 13, 2026
    Don't Miss
    Mutual Funds

    Investment Steps for Beginners to Move Smoothly from Core Mutual Funds to Fractional Shares|コロ

    November 13, 2026

    Hello everyone, this is Koro.In this article, I will explain fractional shares. Many people who…

    Major Crypto ETFs Bled $1.5 Billion While Wall Street Went Dip Shopping

    November 12, 2026

    Desjardins Investments Makes Changes to Its Mutual Fund and ETF Lineup

    November 12, 2026

    [2026 Latest] Are JGBs for Individuals Changing Significantly? 20-Year Bonds, Compound Interest Types, and Lower Minimum Purchase Amounts Under Consideration! System Revisions That Those Aged 60 and Over Should Know

    November 12, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Investors return to bonds as recession fears stalk markets

    August 13, 2024

    Unclaimed Financial Assets: How to check and claim your forgotten money from banks, mutual funds, insurance and NPS

    June 4, 2026

    T-Bonds: What Elliott Waves Said at Key Junctures

    July 18, 2024
    Our Picks

    Investment Steps for Beginners to Move Smoothly from Core Mutual Funds to Fractional Shares|コロ

    November 13, 2026

    Major Crypto ETFs Bled $1.5 Billion While Wall Street Went Dip Shopping

    November 12, 2026

    Desjardins Investments Makes Changes to Its Mutual Fund and ETF Lineup

    November 12, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.