Finance Committee recommends $38.6 million water borrowing after state loan denial

WAYLAND — March 2, 2026 — Wayland Finance Committee recommends $38.6 million water borrowing after state denies zero-interest loan. The committee voted 4-0-2 Monday to back Article HH for the long-term water supply project after the State Revolving Fund passed over Wayland's application, forcing a switch to conventional bonds at three to four percent interest. Members Iris Hoxha and April Methot abstained, citing "substantial" cost uncertainty; both had previously supported the article. Finance Director Brian Keveny said the duration and interest rate are not yet set and that the Select Board's current plan is to repay through water rates. The committee also recommended $500,000 in OPEB funding 5-1-0 and rejected Article XX on long-term facilities planning 1-3-2. Keveny presented a final FY27 omnibus budget of $112,964,253 — a 4.63 percent increase — with a $400,000 snow removal deficit still to be plugged.