2014-11-20-CPC-min - Laserfiche WebLink

Browse Search

Minutes of the Community Preservation Committee Thursday, November 20, 2014 Selectmens Meeting Room, Town Office Building 1625 Massachusetts Avenue 3:00 pm Committee Members Present: Marilyn Fenollosa, Chair; Richard Canale, David Horton, Jeanne Krieger, Leo McSweeney, Bob Pressman, Sandy Shaw and Richard Wolk, Vice-Chair. Absent: Norman Cohen Administrative Assistant : Nathalie Rice Also in attendance was David Kanter, Vice-Chair of the Capital Expenditures Committee. The meeting was called to order at 3:05 pm. by Ms. Fenollosa. 1.Two New Capital Requests: Cary Memorial Building Sidewalk Enhancement and Community Center Sidewalk - Robert Addelson, Assistant Town Manager for Finance was scheduled to meet with the CPC regarding the CPF balances. He commenced his discussion, however, with the submittal of two capital projects which had not been previously identified as CPA eligible. The first was the construction of a handicapped accessible sidewalk at the Community Center, a project which had been indefinitely postponed at the March 2014 Annual Town Meeting. Mr. Addelson explained that John Livsey, Town Engineer, was in the process of submitting design alternatives to the Selectmen and that Mr. Livsey would submit costs and a design to the CPC after the Boards approval. The second project submitted by Mr. Addelson was the redesign of sections of the sidewalk surrounding the Cary Memorial Building. Mr. Addelson explained that the contract called for removal and replacement of the bricks in the front and sides of the Cary Memorial Building. The Commission on Disabilities, however, had recently reviewed this element of the contract, and had requested either wire-cut brick or poured concrete. Mr. Goddard is in the process of getting approval for the sidewalk treatment and will be back before the CPC when he has final numbers. Mr. Addelson noted that the Center Committee will be consulted. 2.Community Preservation Fund Balances Mr. Addelson reported on the status of the Community Preservation Fund and presented the Committee with a preliminary estimate of the available funds for FY16. He stated that the projected CPA revenue was $5,025,000 and that the existing balances in the CPF totaled $3,032,017. These two sources of funding for FY16 totaled $8,057,017. The Committee discussed the burden of debt service payments in FY16 and for years to come. Mr. Addelson gave a general summary of the debt service, noting that the CPA might have the opportunity to pay down some of its debt in FY16. Members agreed that this might be wise, but conversely noted that current 1