Should Charlestown Borrow $1 Million For Land We’ve Already Paid For?

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When: Monday, November 10 at 7 pm
Where: Charlestown Town Hall
What: Town Council meeting to continue discussion of issuing $1,050,000 in bonds

At the August 12 and October 14 Town Council meetings, Council President Deb Carney proposed that Charlestown issue $1,050,000 in Open Space bonds originally approved by voters in 2015. The stated purpose is to “reimburse” the Town’s General Fund for open space properties purchased between 2015 and 2025.

At first glance, that may sound routine. But the proposal raises serious questions about fiscal prudence and whether this use of a bond aligns with what voters intended.

Background
In 2015, Charlestown voters approved up to $2 million to purchase and preserve open space. Over the following years, the Town acquired several parcels, which only cost the town about $1.05 million, using money from the General Fund and other outside funds rather than issuing the bonds. Those expenditures were gradually covered through subsequent annual budgets approved by taxpayers.

Now, over a decade later, the Council President is suggesting the Town issue $1.05 million in bonds—effectively borrowing money—to “reimburse” the General Fund for those past purchases. The purchases were made in partnership with the Rhode Island Department of Environmental Management and the RI chapter of The Nature Conservancy which together provided matching funds totaling $875,342.00, and the Charlestown Land Trust, which paid for other expenses related to one of the properties.

The Debate
Councilor Stephen Stokes: pointed out that much of the money had already been replenished, meaning the Town would be taking on new debt and also paying interest for expenses that have already been paid.

Resident Bonnie Van Slyke: noted that the proposal would add roughly three cents to the tax rate and that voters had never approved borrowing simply to generate new cash in the General Fund.

Other residents: including long-time open space advocates, urged caution, warning that the move could undermine future voter trust in open space initiatives.

What’s at Stake

  • Create new debt for a purpose that has already been funded.
  • Free up more than $1 million in the General Fund, which could then be redirected to unrelated projects, including potentially at Ninigret Park.
  • Cost taxpayers more in long-term interest payments—plus paying the bond holder the $1.05 million.
  • Blur the intent of the 2015 open space authorization, which voters believed would be used for acquiring and preserving land—not for general spending.

Borrowing money for land we’ve already paid for doesn’t preserve open space—it just creates debt.

A Question of Fiscal Responsibility
The 2015 referendum gave the Town permission to borrow up to $2 million; it did not require it. The Charter allows the Town to issue bonds, but it does not compel it. Using bond proceeds to “reimburse” the General Fund—over ten years later—does not appear to comply with the 2015 bond language and seems financially unwise.

Before any bond is issued, residents deserve:

  • A clear accounting of how much of the $1.05 million has already been repaid to the General Fund.
  • A legal opinion confirming that a retroactive bond complies with the 2015 authorization.
  • A firm commitment that no funds will be diverted to non-open-space-preservation purposes.

Why It Matters
Charlestown residents have consistently supported preserving open space—and have been willing to pay for it. But borrowing money for land that’s already paid for doesn’t preserve anything; it simply creates debt.

Fiscal transparency and accountability are essential to maintaining public trust. As taxpayers, we should expect our leaders to honor both the letter and the spirit of voter decisions.

Next Steps
The Town Council will take this subject up at their meeting this Monday, November 10. The Town Council packet contains a copy of the proposed resolution that the Council may vote on. Be warned, the “packet” is an 828-page document, the resolution begins on page 724.

Photograph of Sarah Fletcher
Sarah Fletcher

Sarah Fletcher, the author of this post, is the third generation in her family to be raised in Charlestown. She is a nationally recognized marketing expert with over 30 years’ experience as a creative director, art director, designer, and photographer.


The banner image is a photo of Black Pond in the Pasquiset Pond Preserve, which the town expanded in 2018 in partnership with The Nature Conservancy (TNC).  This open space property was paid for, mostly with funding from TNC—why are we asking the tax payers to pay for it again?”