2016-02-08-CEC-STM1-STM2-rpt - Laserfiche WebLink

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CAPITAL EXPENDITURES COMMITTEE REPORT TO FEBRUARY 8, 2016, STMs 2016 -1 & 2016 -2 The only fund identified in the Warrant under this Article with capital implications and for which an action is contemplated at this Special Town Meeting is the Traffic Mitigation SF —whose balance as of January 13, 2016, is $107,541.41. The deposit into this Fund is available as a result of total payments in the amount of $79,289.02 by Cubist Pharmaceuticals (now a wholly owned subsidiary of Merck & Co.) in connection with the prior approval of a property- development project in Town. The share of those payments into the Traffic Mitigation SF is at the Town's discretion. (The balance of those payments went into the Transportation Demand Management/Public Transportation SF.) STM 2016 -2 STM 2016 2, Article 2: LAND PURCHASE— 20 PELHAM ROAD Fund Authorization Requested Funding Source Committee Recommends To Be Determined GF (Candidate for Excluded Debt) Pending "To see if the Town will vote to authorize the Selectmen to take by eminent domain, purchase or otherwise acquire, for municipal or school purposes, any fee, easement, or other interest in all or any part of land known as 20 Pelham Road and shown as lot 65A on Assessors' Property Map 31, and to appropriate a sum of money therefor and for associated design, engineering and architectural services for plans and specifications and related costs in connection with said property; and determine whether the money shall be provided by the tax levy, by transfer from available funds, or by borrowing, or by any combination of these methods; or act in any other manner in relation thereto." DESCRIPTION: This article requests authority and funding to purchase or take by eminent domain the property at 20 Pelham Road, owned by the Armenian Sisters and formerly used as an elementary school, to be used for municipal or school purposes. [Town Warrant for 2016 -2] At the time of this report, there is no further public information available on this potential purchase. This Committee believes that deliberations have been postponed to a session of this STM later than February 8, 2016. When more information is available, this Committee will update its position on this Article and report that to this STM. 4