 Thank you, Andy. Thank you, Andy. And thank you, Lynn. So I'm joined here today by our finance director, Sean Mangano, our comptroller, Sonia Oldridge, and our financial advisor, David Isenthal, who's been advising the town on borrowing and other financial matters for decades. David, you'll have to say when you get to speak, you know, what, how long you've been with the town. So I know it's been a long time. This is a project we've been at for a long time. We've put a lot of time into it and credit Sean for bringing it all together in the presentation that we're about to give you today. I want to thank you for your time. The council has some really significant decisions concerning the town's infrastructure and finances, and your decisions will influence what the town looks like and how it's managed for decades into the future. You have important decisions in front of you. You can go to the next slide. So there's four key points we want to make today, but we're going to get into a lot more detail in a second. So first, I think we all are in agreement that the town's infrastructure needs considerable investment now. It's been three decades since the town constructed a new building. Our current buildings are showing their age. And for many, if not all of them, renovation is not a good or financially sound option. Second, the town council asked me for a plan to do all four capital projects. The finance director will show you that we have the financial capacity to take on all four projects during the next few years with two conditions. First, that the town voters exclude the debt from a new school building from the limits of prop two and a half, an override. And second, that we have established and observed firm budgets for each of the projects. Third, in making your decision, the council and the public need to understand that while we have the financial capacity and resources to take on these four projects, there are consequences to your decision. Taking on this debt will limit the operating and capital budgets going forward. There are things that we may want to do in the future that we will simply not be able to afford because of these decisions. And that's okay, we can manage within that. But I just want to make sure that in Sonia and Sean and I all believe strongly that the council needs to be fully informed on the content of your decision. And lastly, though, on a positive note, and I know the town council knows this, but I think it's really important for the public to be aware that the town's finances are very strong. And David can attest to this, if we ask him. The fact was confirmed by the town's auditor who just presented the town's audit to the town council. We have strong reserves, we have declining debt, virtually nil at this point in time. We are addressing our long-term liabilities like OPEB and pension. And we'll be continued to elbow out room in our annual budget to accommodate the debt payments that we see going forward. So I'm now going to turn it over to Sean, who will lead you through our presentation, which will discuss things like our guiding principles of financial, he'll show you the financial model, talk about public engagement, and the key decisions that the council will be facing. So Sean? Sean, before you start, Lynn, there are two members of the council who have joined since you confirmed participation. I think that Councillor Dumont and Paul Milne are both present now. Yes, I'd like to confirm that Councillor Paul Milne can hear us. Yes, I'm here. That Councillor Dumont can hear us and we can hear her. Yes. Go ahead, Darcy. Thank you, Sean. I'm sorry to interrupt you. No problem. So as Paul said, I'm Sean Angano, director of finance for the town. I too want to thank David Eisenthal. He's been tremendous help. He's been running lots of debt schedules, adjusting variables as new information comes in. He's one of the most responsive people I've dealt with. He gets back very quickly and he always follows up on everything. So I just really want to thank David for all the work that he's done so far and for the work he'll do in the future because there's a lot more work to be done. So thank you for that. So these are some of the topics we're going to address today. We're going to briefly look at what Andy already sort of laid out, which is what is the goal and the task that we're trying to address with this presentation. We're going to look at the stakeholder engagement plan, which has been a primary focus of what we want to do here. We really want to be intentional about our plan for engaging decision makers and the public and then we'll talk more about that. We wanted to kind of lay out some of the groundwork or working assumptions, which are the guiding principles and the working prerequisites. These are things that everyone should be aware of. It's what the model is based off of. And so again, this is being as transparent as we can. We want to make sure everyone's fully aware of these things. We'll look at the financial model. And I have the tool available, the tool that we would share with the public. So at the end, if people want a quick demonstration of that, I can do that. I will just say that the model is at the point where it's beyond the tool in terms of what we're looking at here today. The tool has some limitations that we really have to work with our financial advisor, David, and some other places combining the capital improvement program and things like that. So the model you'll see here today, it's based off the tool, but it's really been, it goes deeper than that. But I can show what type of public engagement tool we could share at the end. We'll briefly discuss some other factors, which we'll just kind of the things that people need to be aware of. Things that we're thinking about as we put the plan together. But some of them are things we can't control. We just want everyone to be aware. Cautionary considerations, these are again what Paul had mentioned earlier. Things we want around our debt or potential impacts on our operating budgets in the future. We want to give you an idea of the magnitude of what that could look like. And then we'll wrap up with sort of pulling the key decisions to get out of there that are in front of you and talking about next steps. So I won't reread this because I think this is essentially what Andy read earlier, but this was the wording and the goal for the town manager about coming back with a plan for funding of the four projects that we're going to discuss today. And then more recently, there was a memo to provide an updated version of the financial model to determine options of how we move forward. And as I said before, just these bullet points, we use that model to sort of zero in on options that seem feasible. And then we've worked with our financial advisor to develop them as much as we can. The library, for example, is much farther along. So we're able to work much more with a financial advisor to develop financing scenarios for that project. So this is our draft plan for stakeholder engagement. And as I mentioned, we're placing a really high priority on this for this project. It starts with today with the presentation at the top. The next thing we plan to do is dedicate a web page or a project page using our new Bang the Table software to this project. And essentially, that would be a hub for connecting stakeholders and decision makers with all types of information related to these four projects and the financing, more specifically the financing of these four projects. It would also be a repository for questions and answers. So questions we get today, questions we get on social media or other places, we would try to list them all there so that we have a running list. We discussed doing like a story map to help people kind of visually come along to see what the buildings look like and where we're at in the process. And we would also post the link to the planning tool here. And this is where I want to also thank our communications manager, Brianna. She does a lot of this behind the scenes work. She's really great at it and really helpful at working with us to think about how we can best engage our stakeholders. And so she would lead a lot of this work. So I don't want to forget to thank her. And she would also help us with the second or the third item on this list, the social media and press release and community outreach. She would help lead that initiative of getting the word out that this information is now available. The next one. So because the tool was seemed to have a lot of interest in the past, we were willing to sort of set up some working workshops or some sessions. Once it's posted and live where people can come, we can do some demonstrations, people can ask their questions and try to make it as engaging as possible for the public. And then the next one after that, we did this with a budget and it seemed to work fairly well. So dedicating a couple of days to really just questions on this process and the model and things of that nature where we would get questions and try to respond to them in a very timely fashion. Not that we don't always try to do that, but we would try to do it within a half hour or an hour or something of that nature. So dedicating a few days specifically to that. And those would sort of follow up on those workshops where the tool was being demonstrated. And then we're always available to support district council meetings and other groups as needed whenever we're asked. And so the chart on the right that I just wanted to highlight that's sort of the model we're following for this process is we're sharing the information out today. This is sort of the first big update in a while. We're then going to use this plan to engage all of you and the public. And then we will analyze that feedback and refine it. This model is meant to be fluid and flexible and adapt to as variables change or as we get feedback. And so this is the plan we're going to go forward with. So next we're going to talk about some of the principles that we try to build into the model or we use these when we develop the model. So the first is that it's affordable. And when I say affordable, I don't mean that it's cheap or inexpensive. I mean, I mean that it's sort of based on dependable revenue sources. So when you look at this, it's based on a percentage of property taxes or reserves or if a debt exclusion passes and that's sort of a known amount. We wanted it to be based on sort of our known revenue sources as best we can. Next is to minimize the impact on the taxpayers. This model only uses one debt exclusion. And we do try to utilize our reserves to smooth out the peaks and the debt payments when we can. Probably one of the more important elements of the plan is that it moves the projects forward expeditiously or quickly. We wanted to kind of be aware that delays could result in higher borrowing costs right now. Interest rates are very favorable for the town and the farther we push these out into the future. And some of these are already, four or five years down the road when we would actually borrow for them. The farther we push that out, the higher the likelihood is that interest rates could rise. And we also want to be aware of the potential for sunk maintenance costs. If we delay a project and because of that delay, now a new roof is needed or a new HVAC system is needed. We wanted to try to limit that as much as possible. And lastly, we've heard lots about cost escalation and the price of building materials. And the farther out we push things, the more that could grow. And then we'll talk more about this later. But Paul and I lately have been spending a lot of time thinking very long-term as to the next round of buildings that might need to be replaced and really making sure we're in a position where 20 or 30 years from now we can take on that next round of buildings, whatever those buildings may be. We wanted to maintain a focus on asset maintenance. And that means having enough funding set aside for all the other non-building project needs for sustainability initiatives, for the accessibility repairs that we've learned about, for keeping all our other buildings in good work in order. We wanted to make sure that there was sufficient funding for those things. And then the last piece, as I mentioned before, the model is meant to be very flexible. Respond to changing market conditions, anticipated expenses. We wanted to be able to adapt. So next are sort of the prerequisites, prerequisites. So Paul mentioned one of these already, which is this model is based on at least one debt exclusion being approved. And that one must be the school. And that's primarily because that is the largest. And if that project isn't approved for debt exclusion, there wouldn't be enough cash capital funding for the other projects. So that's really a must for this. Next, and also a very important one, is that the funding of capital must be at 10.5% of the property tax levy for roughly the next decade. And we'll see, I'll be more specific as to what those look like in different years. But it does mean setting aside a substantial portion of our tax levy for capital, which has always been a goal. But if we're going to move forward with this model, we really have to stick to it. Established funding caps as presented, which we'll see in a slide or two for the projects. And so this is around setting a number for these projects. And when we work with designers to design these projects, have making sure that they have the number in mind of what the town can afford. It's not to say that, you know, there's not going to be more discussion on these, but this model, you'll see what the numbers are in this model, using 4.6 million of reserves. So we've been intentionally building up reserves for a number of years. And I'll give you more information in a few slides about if we were to use this dollar amount of reserves, what would that mean for what's left over? And, you know, how does that soften the impact on the operating budgets and the capital budgets? And then the last two are really, again, just more about full disclosure and transparency of making sure that you're all aware of the impact on future operating and capital budgets. And I'll give you a sense on a little bit of what that looks like, and then the impact on the debt load of the town. And I'll share some information with you on that topic as well. So onto the model. These are some of the basic assumptions. We're coding the model by date for right now unless we come up with a better coding system. So we'll use the 21621 as the term for this model. And if we do a refining of information and we reshare it, we'll update the date so we'll keep track of the different models that have been presented. So at the top, you'll see the different, the four different building projects and the cost of the town. Those are the caps in this model. The library number should be familiar for most people. That's pretty well established at this point. The other projects are a combination of looking at what projects look like in other towns and what the model could afford essentially. One of the hardest pieces to predict at this point is the approximate project end date for all the projects other than the library because they're just not far enough along to know. So we did make some assumptions here and these could easily move forward or most likely move backwards further in time, which would push the debt payment out. But this model is using at this moment. And then you can see the column. This is where the debt payments would begin. And for some of these projects such as the school, there will be multiple borrowings because it's a long duration for construction. And so it'll probably be two or three borrowings as opposed to a single one. Then down below, you'll see the borrowing terms and the interest rate and whether or not it's a debt exclusion. So for the projects that are near term and terms when we would go out to borrow, the interest rates are lower as we go farther on time, we're more conservative about what those interest rates would look like. And the only one that's at 20 years right now is the Jones library. And that's because we have a more developed financing schedule for what that would look like. And the interest rates, we have a better sense of where that'll end. My desire would be to try to shorten the borrowing terms for the other projects as well when we get closer to actually going out for them. And if we can get interest rates that are more favorable than what you see here, which we may be able to do, there's the potential that we can shorten those borrowing terms as well and trying to keep our annual payment to approximately the same. And then as I mentioned, the only project at this point that's debt excluded is the new school. So this model assumes a percentage of the levy allocated to capital will be 10% and FY23 and 10.5% and FY24. And then it would stay at 10.5% until FY31 and where it could go back down to 10% or lower. The total reserves, as I mentioned, is projected at 4.6 million, but it's important to note that this is over seven years. So it's not like that amount would come out all at once. And, you know, I did a look back at our reserves over the past several years. And I think in the last five or six year span, we added about 7 million to our reserves. So there's the potential that with just what we add to our reserves on an annual basis, because we are conservative in our budgeting that we might not have to draw this much out of our actual reserves. But if we did, if we weren't able to put anything back and we did have to draw this full 4.6 million out of our reserves and reduce it by that amount, we would still be at about 15, between 15 and 16% compared to our FY21 budget because we don't know what budget would be seven years from now. But we would still have a good safety net, is mainly what this is trying to show, which will be important for our operating budget in the future. And then lastly, this model assumes a minimum of 2.8 million in cash capital for new projects. So that's above and beyond what's required for actual projected debt. And this number allows us to stay around 6% of the levy for ongoing capital. So 6% would be dedicated purely for the non-building projects essentially. And then the rest of that would go towards these new buildings. So this is the chart that most of you have seen at one point or another, adapted for these assumptions. So the solid black line is the percentage of the levy allocated to capital. So that's the 10.5% beginning in FY24. You can see it ramps up to from where we are today. The dotted black line shows the years where reserves would have to be used. And you can see it's about seven years where that dotted black line comes up to cover the bars. And then the bars themselves, the green one is our existing debt running off. The yellow bar is how much would be dedicated to ongoing capital. The purple bar is the debt payment for the library. The red bar is the debt payment for the fire station. And the gray bar is the debt payment for the DPW. And so one thing to note for the ongoing capital for at least the next four or five years, we're using actual numbers from our capital improvement program because we're farther along in developing that. So those 2022, 2023 through 2026, that's more based on actual projects that we're aware of at this time. And just a reminder, the schools are not reflected on this chart because the model assumes they would be debt excluded. And so they would have their own funding source. So they're not, they want to be in this comparison to the levy. They would, however, be the one that has an impact on property taxes. So this chart breaks down the impact of the debt exclusion at different property value levels. So on the left, you'll see property values starting at 250,000, going up to 650. Next to that, you will see the average annual increase to property taxes and then the max annual. And the reason there's a difference is because the debt schedule currently assumes sort of a declining debt payment where it starts out higher and then gets smaller over time. And so there's a, you know, the early years is where really the highest, the greatest impact would be and then it would wind down. But we wanted to give you the average too. And these are estimates. I want to be clear. There's a lot of variables here. This is based on our current total taxable property value in town. So if total taxable property values rise through new growth, just price increase, value increases, then these numbers could drop a little bit. If something happens where total taxable property values drop, then these numbers could increase. So these numbers are good for a specific point in time, but as that total taxable property value changes, which it does every year, these will shift. And the other big variable is, you know, we modeled what we think the borrowing could look like for the school project, but that's quite a few years away to when construction would actually begin. There's MSBA reimbursements involved and the timing of those. And so the, you know, the schedule of borrowing is another variable for the schools of what that would actually look like. And we'll be able to adjust this as we get closer to get a more realistic picture. But this was sort of a best guess at this point. And I also on this slide, I just want to thank the assessor's office. They helped put together a lot of these numbers or review these numbers for me. So I don't want to neglect to thank them. So these are some of the other factors I mentioned that I'll just touch on really briefly. That are things that are, you know, sort of always in my mind when I'm thinking about the model, not necessarily things that have a right or wrong answer that we really need a decision on. It's just just for you to be aware of. One is the debt financing. That's where I've been working with David and our treasurer quite a bit. There's lots of different things we can do there. And so he's been a huge help looking at our reserves and more from the standpoint of making sure that we have a strong safety net for operating budgets, especially if we move forward with these four projects, as we said before, that means we'll have to be more disciplined on the operating budget side. And it'll be more important than ever to have a strong safety net if something happens. The sort of the interaction of operating versus capital and, you know, that we need to set aside a certain percentage of the levy for capital and that could have some friction with the operating budget, which we'll we'll actually look at in a slide or two. Flexibility that we can't predict all the variables there are lots and lots of variables as you can, you're probably starting to see. But just being aware of that and making sure that the model is flexible to adapt. And then, you know, if all four of these projects move forward, there are there's the potential for either new revenues or cost reductions from several of them that haven't really been factored into the model moving forward that could either help on the operating budget side or potentially reduce the part of the debt. So just to be aware of that. So now we're on to the cautionary consideration phase of the presentation. You know, the beginning was sort of how we can do it. And this phase of the presentation is more about things to keep in mind. And so the first one we wanted to go run through is sort of a scenario with you is what happens if in the future the town cannot maintain 10 and a half percent of the tax levy for capital. And so at 10 percent of the levy, the model would be about 2.3 million short between FY 22 and FY 30. At 9 percent, the model would be about seven and a half million short. So you can see what a big impact that percentage has on our ability to move forward with these four projects. The 2.3 million at the first bullet point there, that's probably not a huge deal that's spread out over seven or eight years. That's something that I'm sure we could work around. At the 9 percent, that's where it starts to become more substantial and a bigger challenge. And what we would have to do is use some of the strategies listed below to address that challenge, essentially. So it could mean allocating less to ongoing capital in some of those years. It could mean allocating less to operating budgets in some of those years, using more reserves or potentially looking at a second debt exclusion. And in reality, it'll probably be a combination of one or two of them. So again, we wanted to just show, illustrate what happens if we can't stick at that 10 and a half percent, you know, what decisions would have to be made in the future. Because this is a long-term commitment and it will extend beyond at least your current 10-year on the Council. The next sort of caution we wanted to put out there is sort of focused on that tension between the operating budget and the capital budget. And so we wanted to look at FY 23 budget as an example, because that's where there's sort of the big ramp up from eight and a half percent for capital going up to 10 percent of the tax levy for capital. And so we focused on that year because that's going to be a big shift. And so the first bullet points is showing if there was a 3% increase in the FY 22 budget to get to our new FY 23 budget, that would be about a two and a half million dollar increase in the funds we have available. And that 3% is reasonable. Again, this is just a hypothetical. I'm not forecasting that's where it's going to be, but it seems reasonable given where we are. If we do that and we move forward with this model, which increases capital again from eight and a half percent to 10% in FY 23, just the increase in the capital will equate to about 1.1 million. So that eats up a big chunk of that two and a half million of new monies. And so what that would ultimately mean for operating budgets once we take into account pension increases and state assessment increases is that we would probably be looking at another year for FY 23 of between one and one and a half percent increases for operating budgets, which is similar to where we are now. So again, this isn't a definite or again, I'm not forecasting here. I'm just saying this is a possible scenario that could happen that would sort of highlights what that tension might be if we move forward with this model. And then the last one is around the last sort of cautionary consideration is around our debt. And so currently a very small slice of our debt goes to debt service or a small slice of our general fund budget goes to debt service around two percent each year. If during the peak, if this model is, if we move forward with this model, during the peak year for the debt payments are the highest, we would be between seven and eight percent. And that's from FY 26 to FY 29. And then looking at outstanding debt as a percentage of EQV or total taxable property value, we're currently about less than one percent at the moment. As you all know, our debt load is very low. However, at the peak, we would be over three percent, which is would be somewhere around FY 24 to FY 28. And this second comparison, I just want to state that this includes enterprise funds, which recently had some new debt authorized. So this already factors in some of the new enterprise fund borrowings as well. So the purpose of this slide isn't to scare anyone, but it is to make sure that everyone is sort of fully aware of the impact on the debt of the town when we, if we implement all four of these. However, I also wanted to say that not moving forward also has negative consequences as well. And, you know, use an example, the most recent example that I was involved in, the school project, for example, if it was approved the last time it was in the MSBA process, it would have been substantially less expensive than what we're looking at now. And so delaying does sometimes lead to the project's costing more. The other unintended consequence of that project failing is that now it bumps up the school projects, the school project against the DPW and the fire station. So it makes it a much harder sort of challenge to take on because now you've got all three of these at once where if it was approved earlier, the school might already be on the books and we'd be paying down that debt. And as I mentioned earlier, Paul and I are looking, you know, 20, 20 years, 30 years down the road, you know, North fire station, the high school, some of these other buildings that are currently around 50 or 60 years old, the more we delay, the more we might bump up the debt from these projects with those projects. And so we just want to, we're trying to be cautious of that and be aware. So on to key decisions. So the big overall decision is whether or not to authorize all four building projects. These other decisions are sort of underneath that, whether to establish project caps, how many debt exclusions, how much of your reserves to use, what percentage of the levy to commit to capital, and the timing of the projects. And just noting that we don't have complete control over the timing of the projects. Some of them are either part of grant programs or we're still, you know, exploration phases, but definitely can influence the timing of these projects. And we've put in, you know, the assumption that this model uses. So you can see, if we move forward with this model, what the answer to these questions are. And so near in the end of the presentation, we just wanted to talk about next steps. So, you know, we'll incorporate feedback today, but the plan is to move forward with some of the stakeholder engagement activities at the end of the week. There's a presentation to the Jones Library presentation next week at the council meeting. And then there's going to be more information coming up, citing for the fire EMS station and the public works facilities. And I'll also just note as well that the preliminary capital improvement program is being presented Tuesday night to JCPC as well. And that we've tried to keep these two in sync as much as possible, the capital improvement program and this tool. It's actually Thursday night. Thursday night, sorry. And with that, I will see if there's any questions. Before we do that, could we ask, just put David Eisenthal on the spot, if there's anything you wanted to add after seeing the presentation, David? Thank you, Paul. Through the chairs, I'll say it's a pleasure to be here. I've been working with the town for over 30 years.