This past Thursday the Infrastructure Investment Fund (IIF) had their first official meeting since June 27th 0f 2014, over three years ago, and voted to disband the fund. This is a victory for the taxpayers of Holden.
We wrote about the IIF in April, click here, after Tim Ethier had attempted to add elimination of the IIF as a vote at Town Meeting, but it was defeated. Versus going over the various arguements in support or against the IIF, we had one reason why we were against the IIF.
Personally I never attended a Town Meeting until my first year on FinCom, it truly is the purest form of Democracy and I will ever miss one again. The people who attend truly are in control of the town finances.
The IIF is just the opposite of Town Meeting and takes control of the taxpayer’s monies from the taxpayers. The seven unelected members control how the taxpayers monies are spent, not the taxpayers. If a majority of the IIF members do not agree with a motion to spend monies in the IIF, it never gets to Town Meeting for a vote. Bottom line the $1.3+ million dollars of taxpayer monies currently in the IIF are controlled by 7 unelected members, not the taxpayers.
Disbanding the IIF returns control of these taxpayer monies back to the taxpayers!! There will also be no need to waste tax-payer monies on a study that I detailed in my April column, that the members of the IIF were lobbying to have done !! Another win for the taxpayers!!
Can not help but think how far we have come from when the FinCom tried to add $1.4 million to the tax levy for the IIF two years ago increasing the balance to over $2.7+ million, to now disbanding of the fund.
Lastly the time could not be more perfect as we accept the gift of land on Industrial Drive for the proposed new DPW facility. Versus rolling these monies into the General Stabilization Fund, however, which already has $5.6+ million. We should roll these monies into the DPW project.
Between the land being transferred on Industrial Drive to the Town of Holden for no out-of-pocket costs and the disbanding of the DPW, it has been a good couple months for the taxpayers.