Dear Wayland Post Readers,
We write to encourage your vote in favor of Article 22, Create Energy Revolving Fund, at the Annual Town Meeting. This revolving fund will increase the Town’s ability to secure grants and receive rebates from approved energy projects, reducing pressure on limited town capital funds and resulting in more projects, thereby delivering carbon reductions and financial savings to the town more quickly.
Revolving funds are a common municipal financial management tool, already used in Wayland for other purposes. Energy revolving funds are successfully in place in many of our peer communities, such as Natick, Waltham and Winchester. The idea is simple: when the town receives a utility or Government rebate from an energy project, that revenue is retained in the fund to provide a readily accessible source for future projects. In particular, the funds would be available to help town officials meet matching fund requirements when applying for energy grants, making Wayland more competitive for such funds
Wayland’s success with renewable energy projects and energy efficiency efforts have made it a leader among cities and towns, have moved the town towards success in accomplishing it Climate Action Mobilization Plan (CAMP) goals, and have saved taxpayers hundreds of thousands of dollars each year. The Energy Revolving Fund will further support these important goals.
The Energy and Climate Committee, Finance Committee, and Select Board all support the article. Please be a supporter with a YES vote at Town Meeting.
Respectfully,
Neil Gordon, 1 Trinity Place
Ellen Tohn, 5 Fields Lane
