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interest rates are so low, that bonding made a great deal of sense. Mr. Kanter added that the CEC generally favored paying down if at all possible. 3.Grain Mill Alley Project, $455,600 Melisa Tintocalis, Economic Development Director, met with the CPC regarding construction funding for a Pocket Park between 1775 and 1778 Massachusetts Avenue. She summarized the input from public forums that had been held to date and reported that her recent meeting with the HDC resulted in some constructive criticism. Members were generally supportive of the idea of a Pocket Park but had concerns about: (1) pedestrian safety in parking lot section of the park, (2) the need for a more timeless design, (3) the cost of the project, (4) its relationship to the Scenic Byway, and (5) the need to design treatment for sides of the buildings on either side of the park. Ms. Fenollosa suggested that the project might benefit from some additional planning and public comment. She questioned if Ms. Tintocalis had exhausted the planning monies from her FY15 CPA funds. Ms. Tintocalis replied that the funds were nearly depleted. After some discussion, the CPC agreed that it would be most prudent if Ms. Tintocalis amended her application and applied in FY16 for additional planning monies. Though the CPC agreed that it customarily does not comment on project design, it agreed that in this case the Pocket Park needed further public consideration. The Committee agreed to reconsider an amended application for design funds only. Later in the meeting, Mr. Kanter stated his opinion that the project was not worthy of further design monies. He said he felt the CPC should request a report on the project to date, and that the Grain Mill Alley project should be incorporated into the larger Streetscape Design work. He said it represented the cart before the horse, particularly since one of the adjacent owners had recently asked to reserve the right to open a store front on the alley. He said he felt this recent change could greatly impact the design. 4.Cary Memorial Building Records Center Shelving, $30,000 Town Clerk, Donna Hooper met with the Committee to request funding for permanent shelving in the secure documents storage room adjacent to the Robbins Room. The shelves would be used for long-term and permanent records storage. Ms. Hooper explained that since the submittal of her capital request, there had been further review of the storage area and specifically, the adequacy of the sprinklers in the room. She reported that the Fire Department had conducted an inspection, and had determined that new sprinklers would be needed to accommodate the new taller shelves with their greater density of paper records. She said the additional work on the sprinkler system would push the cost up significantly, with initial estimates coming between $60,000 and $75,000. The Committee discussed the project, its additional fire safety costs, and the timing of the work, which optimally should be conducted before July 1. Ms. Hooper noted that she had a balance of $1,000 in a CPA Cary Vault Shelving project from FY07. It was noted, however, that this funding could not be used for the current request, since it had been specifically appropriated for the climate-controlled vault. 2