2021-09-23-CPC-min - Laserfiche WebLink

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Fenollosa asked if the amount requested $235,750 is enough to complete the project. Ms. Mullins replied yes. Mr. Pressman asked if Ms. Mullins consulted with Mike Cronin, Director of Facilities on the contingency percentage. Ms. Mullins responded that she did not and used the standard 15% contingency number. Mr. Pato stated that at the recent Commission on Disability meeting the Commission strongly requested that the CPC grant the supplemental request because this project will be the first fully accessible area in the park system. Ms. Walker stated that when other organizations go before the CPC she hopes that they receive the same treatment as Conservation for budget overruns when it comes to circumstances out of their control. After a motion duly made and seconded, it was voted by roll call vote to recommend $235,750 for Parker Meadow supplemental funds to STM pending Town Counsels approval (9-0). CPA Fund Balance- Ms. Kosnoff explained the “Community Preservation Fund Balances” spreadsheet. After 2021 ATM the CPF balance is $7,907,741. After STM the balance will be reduced to $7,596,991 if both projects as presented are appropriated. Ms. Kosnoff explained that the FY23 approximate CPF balance will be $15 million and most projects would be able to be funded with cash. Mr. Langseth asked when the last debt service payment will occur. Ms. Kosnoff responded that FY25 is the last year of debt service and said that payment cannot be accelerated on remaining debt. Mr. Pressman asked if the CPF balance would be $11 million in FY23 after debt service, noting that the Committee has a policy of having a $2 million reserve balance. Ms. Kosnoff explained that currently there is $7.5 million available and she projects another $7.5 million in FY23 so the Committee will have over $10 million in FY23 after debt and a $2 million remaining fund balance. Annual Town Report FY21- The Committee discussed the draft submission of the FY21 CPC Annual Town Report. After a motion duly made and seconded, it was voted by roll call vote to approve the draft (9-0). The Committee discussed the photo submission for the Report and decided to use last year’s FY20 Zoom snapshot. Review Open CPA funded projects- The Committee briefly discussed the open CPA-funded project balances and status update. Mr. Horton asked a clarifying questions about the Cotton Farm Improvements update. Ms. Federico updated the Committee on the project status of Grain Mill Alley. Minutes- After a motion duly made and seconded, the Committee voted by a roll call vote to approve the minutes from the Public Meeting on 6-3-2021 (9-0). 3