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Minutes of the Community Preservation Committee Executive Session Monday, October 24, 2011 Ellen Stone Room, Cary Memorial Building 1605 Massachusetts Avenue 5:00 pm Present: Board Members: Wendy Manz,Chair; Marilyn Fenollosa, Vice-Chair; Joel Adler, Norman Cohen, Jeanne Krieger, Sandy Shaw, Betsey Weiss and Dick Wolk. Administrative Assistant : Nathalie Rice David Kanter, member of the Capital Expenditures Committee (CEC), was invited to stay for the Executive Session. At 5:00 pm, upon a motion duly made and seconded, it was voted by a roll call to enter into Executive Session under Exemption 6 to consider the purchase, exchange, lease or value of real property and to reconvene in Open Session; the Chair declaring that an Open Meeting might have a detrimental effect on the negotiating position of the Town. 1.Parcel 24-40, Valleyfield Street – Karen Mullins, Director of Community Development/Conservation Administrator, met with the CPC to discuss the possible acquisition of a parcel of land off Valleyfield Street. The parcel, which is 36,887 square feet and primarily wet, is surrounded by existing conservation land at the end of a paper street. Ms. Manz questioned the length of Valleyfield Street, suggesting that the Town’s 600’ minimum cul-de-sac length requirement might preclude development of the lot. Ms. Mullins said the Conservation Commission had initiated negotiations with the owners and that she was requesting CPA funds for an appraisal of the property. The parcel is presently appraised at $83,000, but the owners have entertained the possibility of selling the lot for $50,000+-. The Committee discussed the request by Ms. Mullins, questioning whether a full appraisal would be needed. It was agreed that the CPC requirement of two appraisals could be waived. Members suggested that an opinion of value might suffice. The CPC requested Ms. Mullins to review the cul-de-sac length with the Planning Department to better assess the lot’s development potential. Ms. th Mullins will return to the CPC’s November 7 meeting. 1