GREENFIELD, Mass. (WWLP) – The city of Greenfield is returning millions of dollars in authorized borrowing funds. Greenfield Mayor Bill Martin said the cancellation of $48-million in borrowing benefits both the city and taxpayers.
Communities often are required to borrow money to complete construction projects. One such project was building a new Greenfield High School. The city only spent 20 percent of the $66 million dollars that they requested in authorized borrowing funds.
Mayor Martin said the town will now be able to invest more money into other infrastructure projects, like a new library. “We are doing something. Its very important to continue to improve your infrastructure, do the upgrades, and any updates so that the next generation doesnt have to jump on emergency and urgent repair or replacement.”
Mayor Martin said the city borrowed $140-million less than what they were allocated in fiscal 2018.
Other projects the city spent less on include the Leyden Road resurfacing project, and improvements to the water treatment plant.