Implementing these actions means facing various challenges. They will be controversial and will create certain hardships. No one action will provide the means to resolve the problem on its own - we have to address all these suggestions. However, without taking these steps, we will continue to be faced with the same budgetary challenge we are currently experiencing.

One of the immediate actions available is to expand the commercial base, specifically approving special Town Meeting Article 2 and allowing a mixed-use project on the land occupied by the Wayland Business Center. This is the largest commercial site in town; its buildings have been vacant for years and it does not contribute its potential fully operational share to our tax revenues - generating approximately $290,000 per year, roughly half of the tax revenue realized at its peak.

Finally, at completion, the mixed-use project will give us a vibrant social and retail location with a municipal site and town recreation areas. It also will give us higher tax revenues than any other solution being considered and this is after taking into account all incremental expense increases. In a conservative professional estimate, the project will bring in $453,000 in new taxes and provide better tax base stability than the 40B alternative.