Council Asks Finance Committee To Evaluate Costs Of FFH

By Steve Bigham

When it comes to the financing of Fairfield Hills, town officials are faced with the “chicken and the egg” syndrome. They won’t know what the costs to own it will be until they know what the town wants to do with the property. On the other hand, they won’t know what they can do until they know what the town can afford.

The town is currently in negotiations with the state over the possible sale of the 185-acre former state mental health hospital. Eventually, the question “do we want to buy it” will have to be posed to the taxpayers. But, as council member Melissa Pilchard pointed at Wednesday night’s Legislative Council meeting,  Newtown residents will need to have some idea of what they’re getting into when they finally cast their votes. Right now, those questions can not be answered.

“You can’t answer any one question without answering other questions first. But we need to start someplace,” she said.

So this week, the council granted its finance committee permission to come up with financial guidelines for Fairfield Hills for the next three years. It will be a figure that will give the town a place to start – a number it could at least include on the Capital Improvement (CIP) list. The suggestion was made by members of the council’s ad hoc committee on Fairfield Hills, which admits it is at a stalling point until further specifics come their way.

 Some council members, like Will Rodgers, wondered how the finance committee would be able to come up with a cost figure without knowing the town’s intended uses for the property.

Doug Brennan explained that the committee could get around these hypotheticals by determining “how much of a return do we want on our investment – 10 percent revenue versus a six percent bonding rate?” In other words, he said, where can we afford to play poker. The idea here is to avoid gambling with the town’s money.

Council chairman Pierre Rochman agreed. “We need to come up with a plan that won’t destroy our bond rating,” he said.

Some council members suggested the finance committee be given some parameters, suggesting it use the Fairfield Hills advisory committee’s report for guidance.

The finance committee is expected to meet later this month. Also, the council plans to hold a public input meeting in June to find out what others in town are thinking about when it comes to Fairfield Hills.