2014-01-23-AC-min - Laserfiche WebLink

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2014-01-23Minutes Construction costs are now estimated at $8.677 million, up from an earlier estimate of $8.0 million. Mr. Goddard’shandout identified the make-up of the $8.677 millionand the differences from the original estimate. About one third of the increase is related to a better understanding of the heating, ventilation, and air conditioning (HVAC) needs. The Community Preservation Committee(CPC)unanimouslysupports theuse of CPA fundsfor the bulk of the funding for theproject.Mr. Addelson added that the CPA component will be funded through a 10-year debt instrument/bond; additional funds will come from the tax levy and the Public, Educational, and Governmental (PEG) Access Revolving Fund. The motion forthe article will not request the entire $8.677 million becausethe funds coming from the PEG Access Fund do not require specific appropriation. This fund receives revenue from the cablecompanies (Comcast, Verizon, and RCN), and currentlyhas a substantial surplus.The Communications Advisory Committee (CAC) is anxious to keep some of those funds in reserve because it is concerned that revenue may decrease over time because of new technologiesthat are displacing cable TV, such as internet-based programming. The PEG Access Fund was recently used to pay costs associated with moving overhead cables between 201 Bedford Street and the Police Station into underground conduits. The CAC is supporting the use of $200,000, half of the $400,000 neededfor the Cary Buildingcommunication elements,from the PEG Access Fund. The current estimated costof the projectwasdeterminedby an estimator based on the 50% design development documents.The cost of removing an underground fuel tank is difficult to estimate because of the potential need to address currently unknownsoil contamination.The 90% design development documents should be available in late March. Variablescould increase the estimate. Although some contingency funds could be used for such an increase, it is important to keep some contingency funds for potential change orders needed during construction. Thebiddocuments may include an “add alternate” strategy that will allow some elements to be bid as estimatesand includedin the contractbased on the bids and available funds. Ms. Schonfeldasked about the Town’s ability to increaserevenue by rentingspace in the Cary Memorial Building. Mr. Addelsonexplained that the Town is only allowed to cover its costs when renting space,otherwise it is considered an illegal tax, although there may be more flexibilityin rents chargedto for-profit users. Ms. Garbergnotedthat amortization of the costs of capital improvements should be includedin the costanalysis.It was noted that programs at Cary Memorial Building could become a destination for visitors, which could indirectly benefit local businesses and therefore the Townthrough meals tax revenue, etc.; Mr. Goddardsuggested that this is a considerationfor the EconomicDevelopment Directorto address. It was agreed that having a tour of the building before Town Meeting would be helpful. Mr. Goddard suggested doing this before a Town Meeting Members Association (TMMA) information session. Mr. Neumeier will pursue thisidea with the TMMA. Community Center Capital Project: 3.Mr. Goddard advised the Committee that the Warrant for the March 24 STM will also probably include a request for additional appropriations for Phase I of the Community Center renovations, beyond the approximately $3 million approved at last fall’s Special Town Meeting. He reviewed briefly the background and status of this project: 2