To the Editor
I am writing this in support of the Farmington high school referendum on June, 3. In my opinion, this is a smart investment from the perspective of education quality, long-term cost savings, town’s desirability, and home values.
For the record, I have taught for 35 years as professor of economics and finance at Boston University, Suffolk University, and the University of Hartford. Also, Farmington elected me nine times (one on Board of Education and eight as State Representative). During my 16 years as State Rep., I served as Chair of the Education Committee and Vice-Chair of Finance, Revenue and Bonding. Thus, I am familiar with the project’s financial, bonding and educational issues.
Voters must consider both the costs AND benefits of this investment. The expected net cost of the new high school is about $110 million after state reimbursements. Apart from the structural issues that have been discussed, a new high school will cost much less now versus 5-10 years from now due to future higher interest rates and construction costs.
A new modern facility will increase the quality of education, school safety and our home values, as demand for our town increases. For example, if the value of a $300,000 home increases by 10 percent or 20 percent over time, this means a gain of $30,000 or $60,000. This gain is way above the opponents estimate for the 20-year cost.
For these reasons and more, this is a smart investment for Farmington. Please join me in voting YES on June 3.
Community support for the project is strong - Read more letters!