2017-04-13-CPC-ATM-rpt (Update #2)

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Community Preservation Committee Annual Town Meeting 2017 Summary of Recommended Community Preservation Act Projects under Article 10 for Annual Town Meeting FY 2018 The Community Preservation Committee (CPC)is recommending 11 projects to the 2017 Annual Town Meeting for funding under Article 10. Three projects fall within the area of Historic Preservation, three under Open Space, three under Recreation and two under Community Housing. Described on pages 9 through 24, each project was reviewed and evaluated by the CPC in light of its statutory eligibility and importance to the Town; all 11 received Town Counsel approval. All FY18 applications were discussed in public CPC meetings and were presented at the Town Meeting Members Association Information Session on March 9, 2017. The total cost of the 11 projects which the CPC is recommending to Annual Town Meeting is $4,628,293. The CPC is also recommending approval of Debt Service and Administrative Expenses to be paid from the Community Preservation Fund. There are four commitments for debt service, which include payments for the Wright Farm Acquisition, the Community Center Acquisition, Community Center Renovations and Cary Memorial Building Upgrades. The approved Administrative Budget remains constant at $150,000. These Administrative and Debt Service costs total $2,540,998 and are detailed on pages 25 through 27. 2