Speaker numbers apply only to this recording.
Date Discrepancy Note: The provided context designates this summary for August 7, 2025. The source materials contain a conflict on the actual meeting date: the agenda lists Monday, July 14, 2025, while the transcript states Monday, July 15, 2025.
The Pleasantville Village Board of Trustees held a work session to review the village's capital plan and debt schedule. Discussions covered the village's total indebtedness (approximately $9–10 million), the planned conversion of the pool bond anticipation note (BAN) to permanent financing, significant water infrastructure costs, and various capital and park improvement projects. No formal votes were taken.
Capital Plan and Debt Service Overview The board reviewed the debt service schedule across the General, Water, and Refuse funds. The village's total outstanding debt stands at roughly $9–10 million, comprising $3.3 million in long-term debt and a $6 million BAN for the pool project (final cost ~$6.7 million). The General Fund debt service decreased by $55,000 in the prior year and is estimated to rise by $7,000 in the current year, with a projected $170,000 drop in FY 2029 absent new borrowing. Staff expressed a preference for converting the full BAN to permanent financing in October to begin paying down the debt, while acknowledging the board could choose to bond a smaller amount and use cash reserves to maintain fund balances preferred by bond rating agencies (e.g., Moody's). The recent preservation of tax-exempt status for municipal bonds was noted as a stabilizing factor.
Water Infrastructure A $5–6 million water tank replacement project is the largest anticipated water fund expense. Federal grant applications (previously $5 million, reduced to $2.4 million, then cut to $0) have been resubmitted with support from Senator Schumer and Representative Lawler. The village will also face capital costs for the Millwood water plant, where it holds roughly a 19–20% share. A water rate study indicates that annual rate increases are necessary over the next decade to fund water main relining and other EPA-mandated infrastructure work.
Other Capital Projects
Park and Field Improvements The board reviewed requests for Soldier's Park (backstop, fencing, batting cages) and discussed the ongoing school district initiative regarding a potential artificial turf field at Parkway. The board noted significant obstacles to a major overhaul of Parkway, including an estimated cost exceeding $20 million, site constraints (wetlands, high water table), neighborhood impacts, and the ineligibility of a village-owned site for state school aid. The school district is hosting a community forum on its facilities planning on July 29, 2025.
So sorry to be late all if anyone is watching. I don't know that they are, but uh welcome to the work session for the village of Pleasantville Board of Trustees. Today is Monday, July 15, and uh it's about 730 now at eight we do a little regular session. So the agenda item we had is to talk about our uh debt service and our capital plan. So this sheet, the debt service sheet, same as as you would have seen in the audit from the fiscal year and in four, uh shows in each of our three funds our total indebtedness and the debt service required to service those debts each year. And so for example, in the general fund, um, the line change in payment is a change from the year before. You'll keep me within the white lines in the reign if I go off the rails. Yep. Um so for example, absent anything other happening in the in the current uh in the in the budget that just ended 531 2025, our debt service was down 55,000 bucks. In the in the year we're in right now, it will go up by 7,000. That does not account for what will become a permanent bond for the pool. Which we will have to decide whether we'll bond the entire amount. Currently, the bond participation note is six million. We could roll permanent financing in for that whole amount. In the end, the true cost was more like 6.7 for the pool, yeah. Yes, currently. Because we had the the uh about 6.6. We had the soil removal and that thing. Now we're also in a circumstance with uh fairly substantial fund balance, and we could consider the idea of bonding a smaller amount and applying some cash to that capital expense. But further to the second page, we have lots of other competing demands for that as well. But if you if you look out across again in the general fund, um, as as some debt rolls off the year fiscal year ending 2029, absent anything new happening, we would see our debt service drop by 170,000. Obviously, new things will happen. We know new things will happen. Uh, but uh obviously the advantage of that is we have a little bit of flexibility, but again, absent anything happening, it doesn't, it keeps dropping a bit. Uh, but but not in a substantial way. When you look at the water fund, that's the fund we're gonna hit for the water tanks, uh, which are anticipated to be a five or six million dollar project, all in we're hopeful, but one would have to be doubtful at the moment uh of uh federal grant to support us. Well, the timing is at least the problem. Well, both uh Senator Gimel Grant and Representative Lawler had us in for a five million dollar grant in the federal uh in both of the two house budgets, Senator and House last year. Uh that went through the reconciliation project process and got knocked down to 2.4 million, and then in the deal that was cut a few months ago, it was cut to zero. Um so uh the bond that the grant request is back in again, and we filed all the paperwork. Uh and both general brand and schumer and and law are on the house side say they will put it in again. And