Budget Referendum: Voters hit polls today to approve, fail budget
The polls will be open from 6 a.m. to 8 p.m.
The Board of Education proposed $53,044,332 in operating expenses and $1,337,000 in capital expenditures. The General Government proposed $21,068,961 in operating expenses, while the Willimantic Taxing District Board of Directors is proposing $13,405,869 in operating expenses.
Town Manager Robert Zarnetske said the proposed budget was designed to accomplish two goals: reduce the burden on taxpayers and make strategic adjustments to all programs to set the town on a path toward stable taxes in the future.
'I think we substantially achieved both goals,' Zarnetske said. 'If the budget passes as is, the tax increase for most property owners will be minimal — about $40 to $100.'
Zarnetske added the increase would be even less for those who only pay taxes on their automobiles.
Windham Mayor Tom DeVivo said he feels good about the proposed budget, which he believes provides the community with the services people want in Windham.
'The Town Council has made staff cuts and accepted difficult choices to the workflow in town hall as proposed by Town Manager Robert Zarnetske,' DeVivo said. 'The council is committed to the town selling many of the vacant properties the town owns and controls.'
DeVivo believes those properties could contribute revenue to the town and alleviate the burden on homeowners.
'I urge all voters to vote 'yes' on May 20, 6 a.m. to 8 p.m. at their usual voting spot, and keep Windham moving forward,' DeVivo said.
Council member Bill Sayers said this budget is an absolute bottom-line budget.
'I believe every board did their due diligence to craft budgets that were solid, but responsible to the taxpayers,' Sayers said. 'I hope that when people go to the polls to vote, they will vote 'yes' on all three budgets. I sincerely believe that Windham voters will realize that the work was done and vote to approve.'
Polling places for voters will be at the VFW, Elks Lodge and the Windham Center Fire Department. If unsure of your polling place, call 860-465-3016 or 860-465-3013.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Wall Street's $13B Signal: The Real Estate Freeze Might Finally Be Melting
Brookfield Asset Management (NYSE:BAM) is back in selling modeand in a big way. After years of sluggish activity, the firm has already moved $13 billion worth of properties across the U.S., Spain, and Australia in 2025, compared to just $2 billion during the same period last year. These aren't one-off disposals either: deals include everything from a retirement housing business in Australia to student housing in Spain, and a $2.2 billion sale of Fundamental Income Properties to Starwood. CEO Lowell Baron, who took over last month, said the market is edging back toward more normalized deal flow after a painful drought triggered by higher rates and mismatched expectations between buyers and sellers. Warning! GuruFocus has detected 5 Warning Sign with BAM. Why does this matter? Because for years, real estate managers have been stuck in limbounable to sell assets, return capital, or raise new funds. That's started to shift. Brookfield raised $5.9 billion in the first quarter alone for its flagship real estate fund, which now totals $16 billion. According to Baron, one major reason investors were holding back was because they hadn't seen any distributions. Now that the firm is finally returning capital, it could grease the wheels and restart the fundraising cyclejust when most managers need it most. U.S. commercial real estate investment also rose 14% in Q1 year-over-year, hinting that the worst may be behind us. But this isn't a rising tide lifting all boats. Demand is rebounding for data centers, housing, and logistics assets, while older office buildings still face elevated vacancy and distressed loan restructurings. Brookfield itself defaulted on office loans in Los Angeles and restructured debt on London's CityPoint tower. And yetit's also doubling down on select opportunities. After making contrarian bets on European offices post-pandemic, the firm is now eyeing supply shortages in high-end urban markets. We still see that bifurcation, Baron noted, adding that the buying window remains open as the backlog of distress slowly plays out. For now, capital is coming backbut only for the strongest stories. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Intel to separate networking unit as new CEO Tan overhauls business
(Reuters) -Intel is planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations. Tan's plan to rejuvenate the once-iconic chipmaker focuses on shedding non-core assets and reducing expenses by scaling back major investments and cutting workforce numbers. Reuters reported in May that Intel was considering divesting its network and edge businesses, previously called NEX in its financial reports. "Like Altera, we will remain an anchor investor enabling us to benefit from future upside as we position the business for future growth," the company said in an emailed statement. In April, Intel agreed to sell a majority stake in its Altera programmable chip business to buyout firm Silver Lake at a valuation of about $8.75 billion, or nearly half of what it had paid for the business in 2015. Tan has been given the challenge of revitalizing the chipmaker after years of missteps and high-capital manufacturing strategies led to growing losses, all while the company grapples with establishing a foothold in the burgeoning AI market. Intel's shares were down 9% on Friday after the chipmaker warned of exiting chip manufacturing if it failed to secure a major customer. It also reported a surprise second-quarter adjusted loss and forecast a bigger-than-expected loss in the third quarter. In the latest first quarter, Intel made NEX a part of its data center and PC group and does not report its results as a separate segment. The unit, which makes chips for telecom equipment, generated revenue of $5.8 billion in 2024, securities filings show. That constituted about 11% of the company's total sales. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
3 minutes ago
- Yahoo
Why QuantumScape Stock Is Sinking Today
Key Points QuantumScape is sinking after Goldman Sachs published bearish coverage on the stock. Goldman raised its one-year price target on QuantumScape from $2 per share to $3 per share, but it maintained a sell rating on the stock. QuantumScape's solid-state batteries could be revolutionary, but the stock is a high-risk play. 10 stocks we like better than QuantumScape › QuantumScape (NYSE: QS) stock is being hit with big sell-offs Friday in response to bearish analyst coverage. The company's share price was down 6.3% as of 3 p.m. ET. despite the S&P 500 being up 0.4% and the Nasdaq Composite being up 0.3% at the same point in the day. The stock had been down as much as 11.9% earlier in trading. Shortly before the market closed yesterday, Goldman Sachs published new coverage on QuantumScape and reiterated a sell rating on the stock. Despite some recent pullbacks, the company's share price is still up 127% this year. QuantumScape stock sinks following bearish coverage With its coverage yesterday, Goldman Sachs raised its one-year price target on QuantumScape from $2 per share to $3 per share but kept a sell rating on the stock. Mark Delaney, the firm's lead analyst on the solid-state battery specialist, said he saw some encouraging signs with QuantumScape's new Cobra manufacturing process and the expansion of its deal with Volkswagen's PowerCo subsidiary, but he remained heavily bearish on the stock due to a belief that big risk factors facing the business aren't reflected in its current valuation. As of this writing, the investment firm's price target implies potential downside of roughly 74.5% for the stock. What's next for QuantumScape? QuantumScape's solid-state battery technologies have the potential to make big waves in the electric vehicle (EV) industry by offering superior charge capacity, faster charging, and safety improvements. On the other hand, it still remains to be seen whether they will actually wind up being brought to market and used by Volkswagen's PowerCo and other potential customers. With its recent quarterly report, the company announced that it had secured a new deal with PowerCo worth $131 million and that it now had enough cash to fund its operations through 2029. QuantumScape stock could deliver huge returns if its solid-state batteries see market adoption, but the stock is a speculative play and could see big sell-offs if the company hits roadblocks on the path to commercialization. Do the experts think QuantumScape is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did QuantumScape make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,040% vs. just 182% for the S&P — that is beating the market by 858.13%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool recommends Volkswagen Ag. The Motley Fool has a disclosure policy. Why QuantumScape Stock Is Sinking Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
