2023-10-19-CPC-min - Laserfiche WebLink

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4 Mr. Kanter expressed support for AHT’s pre-funding being used to target and fund new projects as opposed to funding ongoing projects. Ms. Heitz commented that while the CPC has other categories of project funding, she hopes that affordable housing applications are strongly considered due to the extent of the housing crisis. Ms. Beebee asked if the AHT is eligible to incur debt. Ms. Kowalski replied that borrowing is within the powers of the Trust but that it was advised not to do so. Ms. Tung added that if the AHT borrowed, they would have to set aside their current funds as collateral and would be unable to distribute those funds over the length of the loan. Ms. Beebee asked if the Town could incur debt on behalf of the Trust instead of the CPC. Ms. Kosnoff explained that the Town could borrow, but they would have to collateralize the debt with the tax levy, which would be unpreferable. Ms. Fenollosa and Ms. Krieger expressed thanks to the affordable housing groups on behalf on the CPC for their time and participation. Mr. Sandeen and Ms. Walker thanked their fellow CPC members for meeting to discussing affordable housing funding. Ms. Beebee, Ms. Bettite, Mr. Boudett, Mr. Cole, Ms. Foley, Ms. Heitz, Ms. Kowalski, Mr. Lamb, Ms. Manz, Ms. Morrison, Ms. Prosnitz, Ms. Rhodes, Ms. Roy, Ms. Rust, Ms. Tung, and Ms. Weiss left the meeting at 5:40 PM. 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 2-9-2023 and the Public Meeting on 9-21- 2023 (8-0). Committee Business- The Committee discussed the upcoming meeting schedule for CPA request presentations and discussions. The Committee agreed to meet on October 26, 2023 at 4:00 PM via Zoom to discuss a CPA request for a Cary Memorial Library project. Mr. Sandeen asked if there would be any CPA funding requests for the Munroe Center. Ms. Kosnoff replied that she nor Public Facilities is aware of any pending requests and do not expect any for FY25. Ms. Kosnoff also shared that there would be no requests for the Stone Building and that there may be a CPA request for a land acquisition. Mr. Pressman asked Ms. Kosnoff if she might be able to provide the Committee with an updated CPA Fund Balance spreadsheet. Ms. Kosnoff replied that she could provide the fund balance information for their upcoming October 26th meeting. Ms. Kosnoff also stated that the Town’s Financing Plan would be completed in a few more weeks and that could adjust the Town’s final CPA request totals. Mr. Creech left the meeting at 5:50 PM.