The Nashua-Plainfield school district plans to finance construction of a baseball and softball complex in Plainfield one of two ways, neither of which affects property taxes. The Board of Education at its regular meeting on Monday approved resolutions to make either possible.
Regardless of the way the debt is incurred, the district will use sales tax revenue from the state to pay it off. The statewide 1 cent local option sales tax, which voters reauthorized in the fall — called Secure an Advanced Education or SAVE funding — is designated for school facilities.
The Board’s preferred financing option requires getting 60% approval in a March 7 referendum for a $3 million bond issue. This is less expensive in the long run, according to N-P Superintendent Todd Liechty. The secondary option is issuing $3.4 million in bonds without referendum approval.
“The board would also use SAVE funds to pay off this bond, but having the voter approval saves them a great deal on the structure of the bond,” Liechty said.
With voter approval the district will save $1.1 million dollars in financing fees and the bond will be retired in 2034 rather than 2043 for the secondary option, he said.
A storm destroyed the concession stand and restrooms at the existing softball complex in Plainfield in December 2021. This project will replace those and includes lighted baseball and softball fields as well as diamonds for youth leagues.
The current N-P varsity baseball field is tucked just north of the Big 4 Fairgrounds.