Spurwink School parking lot project canceled

Spurwink School Parking Lot CIP Project 2002-5105 has been abandoned because the cost of renovating the structure itself is in excess of $1 million.  In an April 11, 2022 Memo from Finance Director John Quartararo, "Without the ability to utilize the building, there is no need for a parking lot adjoining the building" and requested that the Town Council to approve an order to close out the project which was budgeted at $100,000.  JP Morgan Chase provided the financing through a lease-purchase agreement.  To date, $7,901.72 has been spent for engineering work.  However, the financing agent cannot reimburse this amount since the project is not moving forward.  As a result, the council voted 7-0 in favor of closing out the project and the appropriating the year to date expenses from Unassigned Fund Balance.  Councilor Penny Jordan said, "We need to figure out what we are doing with that building; at one of our workshops in the next few months we should put it on the agenda to decide what actions we need to take to move forward with this.  It's just sitting there atrophying and it s just going to get more expensive.  It's sad, so sad."

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