Basalt has financial means to buy park | AspenTimes.com
YOUR AD HERE »

Basalt has financial means to buy park

Paul Noto (“Fait accompli in Basalt,” letters, The Aspen Times) indicates that the town of Basalt will have to give short shrift to snow plowing, the police department, employee housing, etc., if it moves forward to purchase the remaining Pan and Fork property.

Nothing could be farther from the truth.

Purchase of the Pan and Fork will come from restricted Parks and open space funds, extending the underpass bond debt by three years and, yes, the general fund. When it comes to the general fund, council can raise reserves to 33 percent of its budget in one year or purchase the park and raise reserves over a 3-year period.



While the 33 percent amount is arbitrary, it is reasonable. The reserve was reduced during the tenure of the last town manager, who managed to have the town spend it down. This town manager quit when council starting demanding more oversight of his expenditures. Restoring it in three years, if in fact it takes that long, is reasonable, and will not affect the operating budget of the police department or public works.

Noto also states that the Town will hire an outside consultant who will state that “everything will be just fine.” Perhaps this will happen, but I don’t think it is necessary. There are some financially sharp members on this council and anyone else who has the data and can do arithmetic will arrive at the conclusion that the purchase will not jeopardize the town’s finances.



Gerry Terwilliger

Basalt


Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


Letter to the Editor

Kimbo for Aspen City Council

|

Vote for Kimbo Brown-Schirato for council. She’s the right choice at the right time for Aspen. She listens, works extremely well with others, and she’s effective.



See more