SPENCER — After years of hopes, dreams, conversations, grant applications and planning, the Spencer Board of Aldermen Tuesday night authorized Town Manager Peter Franzese to sign a construction contract with Ike’s Construction of Concord to build a new town park in front of town hall.

Years ago, there was a town park on the property, and Special Projects Planner Joe Morris told the board Monday that “area churches all agreed to raise the money for the park and do the planting. The property was owned by the railroad but the community built the park. We can do it again, it’s in our DNA.”

The board had set aside funds for the park but after spending a little over $230,000 on planning, grant applications and other preparations, the town had $1.84 million left to spend on construction.

The initial bid from Ike’s came in at $2.455 million. So the town and the company got together and worked out about an 11 percent savings through value engineering, which involves using some less expensive materials.

“We were very thoughtful about the things we value engineered,” said Mayor Jonathan Williams. “We didn’t want to affect the quality of things or the future maintenance. At this point, we have probably cut as much as we can without affecting quality or the use or function.”

That brought the cost down to $2,175,700, but that still leaves the town more than $330,000 short, so the board has agreed to launch a capital fundraising campaign that Morris will oversee.

One of the larger ticket items in the plan is an interactive water feature for children, and a $500,000 grant from the Parks and Recreation Trust Fund (PARTF) requires that element to be a part of the park. Alderman Patricia Sledge noted the town had reduced the budget for that item from $200,000 to $100,000, and she wondered how that might work.

The reduction was a move prompted by closer evaluation of options, said Williams.

“There are a limited number of vendors for a project like that, and our original estimate was based on information from one vendor,” he said. “On closer consideration, some things seemed a bit extravagant, such as a 4-inch return water pipe where a 2-inch pipe will probably do.” So though the town reduced the amount it budgeted for that item, it will still be included.

Morris said other requirements for the PARTF grant include a requirement that all plantings be native, “so no Crape Myrtles,” he said. But he added that it might present a different opportunity for establishing different garden plots, such as a pollinator garden or a kitchen garden.

The board also voted to increase the initial allocation by $385,000 to bring the total budgeted amount to $2,303,000, with the firm belief the community will step up and raise funds to fill in the gap.

The contract will be a nine-month work order and construction is expected to begin Oct. 2, with a ground-breaking at National Night Out Oct. 1.

Local events will give anyone a chance to make a donation to the project, said Franzese, and anyone interested in funding larger projects can reach out to the town hall for more information. In addition, there are add-ons the town can consider if fundraising efforts exceed expectations.

“This has been a long time coming,” said Williams, “and it will look a lot different a year from now.”