Board of Aldermen — 6/13/17 Page 4
into it and have 22 years to go. I’ve been asking say look it we need to relook at this thing. | hate to push off
the debt but you know what, we’re hurting right now. We need to spread it out in some way. Then they turned
around unfortunately and they had a right to which they should have done earlier on is they assuming the rate
of return was 7 % right? So what got us into more trouble? They reduced that rate down 7 % and now the
current people, again — think about that in your own 401k is there anything else. What it means to people. So
now we have to come up with this money 7 % and (inaudible) believe me we're not looking for interest to go
soaring. | don’t know what anyone else’s viewpoint but we weren’t looking for them to go sorry. We may be
here for a while, a little bit longer. So every time we go through another year and they’re assuming 7 % which |
can hope they can do, and they did it by taking some chances.
The investments are now down to only 25 percent fixed. They are 75 percent variable. (inaudible) stock
market what’s going on in their investments but you know what 75/25. How can we do this going forward?
First (inaudible) a number of years, a younger period of time when you bought a house you got to have a
budget. | used to do this workshop and I'd say to people okay look at the budget what's fixed? Everyone
raised their hands and all the items basically. Well | can’t my mortgage is fixed. You're not going to pay the
taxes. Do you know what’s not fixed? You made a mistake. You either stand up and the way to correct is you
need to sell the house. That sounds kind of tough but now when you do that, you reduce your mortgage, you
reduce your expenses, etc.
So we need to take a look at this. | Know there’s lots of problems here. Kindergarten for example. How long
have we gone without having it? Now maybe we need to postpone that for another year. This fall they’re
going to look at in this State — and | hope to keep on pushing that — I’m going to look at the committee to look
at possibly again looking at this 22 years left to go to maybe expand it in some way. That’s something we
should be looking for. Don’t lock ourselves in to a budget today. Give us some more flexibility. We're at the
top of it. We need to start down the other side not just this city but many towns and many cities across the
country. Thank you very much.
Peter Kelleher, CEO, Harbor Homes, Inc.
Good evening. I’m Peter Kelleher, President and CEO of Harbor Homes, Inc. | made a full presentation about
the safe station program before the Budget Committee. So I’m here tonight just to try to amplify or answer any
questions that anyone may have about our request. | just would like to thank the support of the city, and the
fire department, ambulance, and everybody that has really stepped up for this very innovative and effective
program. We just received some additional set of bonus information from Southern NH Health Systems that in
the first five months of this calendar year the number of persons that have shown up in the emergency
department for overdoses has decreased by 13 percent since we started the program. | think that’s another
sort of dividend that’s very much related to the operation of this program. There’s many things that we can say
about it but we’re all very proud of the results and proud of the opportunity to work in such close partnership
with everybody that’s playing a key role here. With that, | will answer any questions. | think it’s a very great
program.
PETITIONS — None
NOMINATIONS, APPOINTMENTS AND ELECTIONS — None
REPORTS OF COMMITTEE
Budget Review Committee... ee ceceeeeeecteeeeeeeeeeeeeeeeeeeeeeeenees 05/22/17
There being no objection, President McCarthy declared the report of the May 22, 2017, Budget Review
Committee accepted and placed on file.
