DERBY — The city’s finance director said if voters approve a $6.5 million capital needs referendum Nov. 4, he will manage the debt so that it does not raise the mill rate.

“The short answer is that it is not going to do anything to the mill rate,” said Derby Finance Director Brian Hall. “I expect that this borrowing is going to occur over multiple years. We’re going to stagger it. I have many levers at my disposal when it comes to debt. As far as duration, we are going to try to spread this out over 20 years.”

Hall made his comments during a Sept. 12 “Navel Gazing Podcast” livestream with The Valley Indy.

The complete interview is embedded above.

In addition to talking about the upcoming capital needs referendum, Hall talked about the city’s finances in general, and about the city’s positive interactions with the Connecticut Finance Advisory Commission, a group that has been keeping an eye on Derby since 2020 because of troubled bookkeeping and finances.

Hall didn’t say the city will never raise the mill rate again. In fact, he said the the city, in addition to growing its grand list, will need small mill rate increases to keep up with increasing expenses driven by items such as insurance and utility costs.

But he said the $6.5 million in borrowing can be absorbed in a way so that it doesn’t directly contribute to a mill rate increase.

In August, after months of discussion by a capital planning commission, the Derby Board of Aldermen & Alderwomen decided to send a $6.5 million capital needs referendum to voters.

Here is what Derby wants voters to approve:

  • $3 million for two Derby Fire Department pumper trucks

  • $1.5 million for a rescue truck for the Storm Engine Co.

  • $560,000 for two Department of Public Works trucks

  • $550,000 to replace the public safety radio system

  • $400,000 to replace the HVAC system at Derby Public Library

  • $358,000 to replace a chiller at Derby Middle School

  • $132,000 as contingency

Be sure to watch The Valley Indy’s YouTube channel at 12:30 p.m. Monday, Sept. 15 to see Derby Fire Commissioner Gary Parker, Derby Fire Department Chief Thomas Biggs, and Derby Storm Rescue Chief Thomas Lenart talk about the need to buy new equipment.