Issue 4, February 3, 2001                                                                 Edited by Christine Butcher

You get more for your money!

In a money saving effort to preserve the rural heritage of North Hampton and to protect some of its open land from development, the North Hampton Forever Initiative, the Selectmen, and the Budget Committee are asking citizens of North Hampton to approve a $4,000,000 bond issue. The money will be used to protect forever as much as 800 acres of buildable land. By leveraging town funding with private donations and government grants, open land can be protected at remarkably low cost. At the same time, the town is relieved of costs created by new homes. The result is a considerable savings to taxpayers, and is accomplished while preserving everyone’s property rights and enhancing our property values. Just look at the figures below.

Cost to Town if

Developed

If 10 new homes are built in the first year, the net cost to the taxpayers, after adjusting for the new tax revenue, is $69,250/year.

If an additional 10 homes are built in the second year, the cost to the town’s taxpayers increases to $138,500/year.

*These figures assume:

· Average assessed value

  of new homes:  $400,000

· Average 1.5 children/home

· School costs: $8,510/child

· 15 year bond @ 5% interest

Cost to Town if

Protected

The building rights for this property are appraised at $465,000, and the owner is willing to sell. Using a bond for this amount, the annual bond payment would be $44,126, resulting in first year savings of $25,124.

But for this project, the North Hampton Forever Initiative has obtained some private funding and applied for a DES grant, bringing the cost down to $200,000.

At this price, the bond payment would be $18,979, resulting in a savings to taxpayers of $50,271 in the first year, and $119,521 in the second year. Over the 15 year life of the bond, a total of $2,008,250 in savings.

With your support, the town can preserve its lovely open and peaceful atmosphere. We can add to the recreational and educational options for citizens young and old. We can lessen the pressure population growth puts on our schools. And we can ease the pace of new residential development without growth control legislation.

Perhaps most important, the cost to protect buildable land is less than the cost of town services required for the homes that would have been built.

The initial cost is only 83¢/thousand on your

tax bill. The rewards are immeasurable, for taxpayers and for North Hampton.

We cannot achieve this without your help!

Election day will be March 13^th. Please vote yes on Article 21 and take a friend to vote.