2013-01-10-CPC-min - Laserfiche WebLink

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$14,000. The Gazebo Renovation Project would require expenditure of more than 30% of the value of the building, which triggers ADA compliance. Mr. Pinsonneault will submit a revised cost estimate during the week of January 21 covering ADA compliance. He indicated that the cost estimate in the revised application would be in the range of $80,000. His preliminary discussions with an architect had indicated that raising the grades on the side of the gazebo or wrapping the required ramp around the gazebo might reduce the ramp's length and visual impact. 3. Discussion of CPA Finances and Wright Farm Bonding — Rob Addelson, Assistant Town Manager for Finance, was invited to the CPC meeting to discuss financial planning for the year ahead. He reviewed a budget breakdown, which showed the balances of the three "buckets" and the Unbudgeted Reserve and Undesignated Fund Balance. Excluding Wright Farm debt service, (or any associated payments on a bond anticipation note) the CPA would have approximately $3.6M after the appropriation of all approved FY14 projects. Mr. Addelson will further verify the balance of the Undesignated Fund Balance. Mr. Addelson also discussed bond options for the Wright Farm acquisition which closed in December of 2012. He said he anticipated that a bond anticipation note (BAN) would be issued in February of 2013 for the bonding of the $2.95M purchase, and that the BAN would come due in FY14. He therefore recommended keeping a placeholder for the BAN, which would include interest and possibly any paydown monies. He said that in light of the negotiations for the possible purchase of 33 Marrett Road, renovations to the Cary Memorial Building and other large capital projects under consideration, it would be premature to set a definite amount for the FY14 debt service on Wright Farm. Mr. Addelson will further update the CPC at a meeting in February. 4. Final Votes on CPA Applications — The following final votes were taken on the FY14 applications under review by the CPC. Discussion is noted where relevant. a.) Archives Records and Preservation /Conservation, $20,000 — 9 -0 b.) 5 -Year Open Space Plan Update, $30,000 — 9 -0 This project has been removed from the list of projects that will go before Town Meeting. The $30,000 cost for updating the Open Space and Recreation Plan will be drawn from the FY14 Administrative budget. Members voted 9 -0 to support this project and its method of financing. c.) CPA Conservation Restriction Enforcement Funds, $25,000 — 9 -0 Ms. Rice noted that Ms. Mullins may revise the budget of this project to include the CR enforcement funds needed for the Busa property. If needed, the CPC will re -vote the project at its January 24 meeting. d.) Cary Memorial Building Upgrades, $550,000 — 8 -1 The Board of Selectmen will be discussing this project on Monday, January 14 The CPC voted to support 2