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Dawn McKenna – will any other projects be considered? Betsey – no, <br />because of the tight timing with Town Meeting, these projects are included <br />because they already in the capital budget and can be funded with this <br />year’s CPA funds. All other projects will be subject to an application <br />process and vetted by the Committee for consideration at the next Town <br />meetings, probably in the fall and definitely in the spring. <br /> <br />e. Reserves – we must allocate 10% of CPA funds to each of the areas that do <br />not have projects <br /> <br />Mr. Valente: he estimates receipts of $2.3 million from property taxes <br />beginning 7/1/06. <br /> <br />Proposed motion: <br />Admin. – open space plan, $5,000 for CPC expenses <br />Open space – since no projects before us, put total allocation ($230,000) in <br />reserves <br />Historic – amount depends on recommendations tonight <br />Community housing – no projects so all in reserves <br />Balance should be allocated to the general unreserved CPA fund balance so <br />that if a project comes up, we could tap into the fund, after consideration by a <br />special town meeting. The reserves will be invested, and the income from the <br />investments stays with CPA trust fund. If actual tax receipts are more than the <br />estimated receipts, the allocations will be similarly increased. <br /> <br />How are CPA funds expended? They are paid out through normal town <br />payments after a project is approved by Town Meeting. It is up to department <br />requesting project to manage and fund the project. The CPC recommends but <br />the project proponents handle all details <br /> <br />Betsey: any other questions from audience? <br /> <br />Ms. McKenna– <br /> <br />Can CPA funds be used for private projects? If so, she wants to <br />recommend three possible projects: <br /> <br />- Renovations to the Depot -- This project started long before the CPA was <br />adopted. We can’t use CPA funds to reimburse for past expenses. <br />- Bathrooms at Lincoln Park – per the CPA statute, CPA funds can’t be <br />used to add to the amenities because the fields were not originally <br />acquired or developed with CPA funds. <br />- New playing fields: there is a lot in the Manor section, off Simonds <br />Road on Williams Road (Baskin Field) – This area is too wet – it would <br />require investment in a drainage system. There is another lot, the school <br />site off Woburn Street on Utica Street: we could put two fields there. <br /> <br />- 4- <br /> <br /> <br />