Milton Town Hall · Capital Improvement Planning Committee Meeting Transcript
Milton Puts Labouré's Yearly Bills at $445,000, With a Jan 31 Closing
303 Adams St · Capital Improvement Planning Committee · Oct 31, 2026
If voters approve the purchase Dec 15, Milton takes on the campus's utility and insurance bills at closing.
- The bills: $445,000 a year for electricity, gas, insurance, stormwater, and water and sewer, in Town Administrator Nick Milano's breakdown, a member of the town's capital planning committee said Oct 19. Loan payments are extra.
- Closing: Jan 31, 2027, in the signed purchase agreement. It can slip, but not past March 31 unless Labouré agrees.
- Borrowing: short-term notes until September, Milano said. The town's latest bonds cost up to 3.75% for 15 years and 4.25% for 30.
- A school: with an addition would likely cost more to run, the member said. Milano said that gets worked out with the state over the next 6 to 9 months.
- Next: voters decide Dec 15. The town puts the first-year tax cost at about $130 for the average single-family home.
- Background: the Select Board signed the purchase agreement Sept 22. Town Meeting voted 168-45 on Oct 19 to buy the 4.77-acre campus for $11.75 million.
Sources: Capital Improvement Planning Committee meeting video, Oct 19 (Milton Access TV) · Labouré purchase and sale agreement, signed Sept 22 · Town's Labouré purchase page (tax estimate)
Earlier coverage: Milton Seeks State Study of a PreK/K School, Labouré Included (Oct 30, 2026) · Planning Board Wants a Say in Labouré's Future if It Isn't a School (Oct 27, 2026) · Labouré Backers Warned of a 40B, a Familiar Argument in Milton (Oct 24, 2026)