Weymouth New Growth Revenue Has Averaged $2 Million Annually Since 2016

WEYMOUTH -- October 8, 2021, Weymouth officials report new development has generated $12 million of the town's $34 million budget increase since fiscal year 2016. Chief of Staff Ted Langell and Planning Director Bob Luongo appeared on the October 8 episode of the town's public-access program "Town Talk with Ted" to present data arguing that growth has had modest impacts on schools, water, and traffic while delivering outsized revenue benefits. New growth revenue has averaged $2 million per year over the past six years, up from under $700,000 before the current administration, accounting for 35 percent of total budget growth, more than state aid (10 percent) or local receipts (9 percent). School enrollment is down about 500 students since FY15 despite new construction, and water usage has remained essentially flat at 4.35 million gallons per day, though the town is permitted a maximum of 5 million. Langell also announced that first-year Chapman School debt-exclusion costs came in at roughly $4.5 million for FY22, nearly $1 million below the projected $5.5 million, due to favorable borrowing rates.