2017-10-12-CPC-min - Laserfiche WebLink

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Minutes of the Community Preservation Committee Thursday, October 12, 2017 Parker Room Town Office Building 1625 Massachusetts Avenue 3:00 PM Committee Members Present: Marilyn Fenollosa (Chair); Richard Wolk (Vice-Chair); Charles Hornig, David Horton, Joe Pato, Robert Pressman, Sandra Shaw, Melinda Walker. Jeanne Krieger joined the meeting remotely at 3:10 PM due to her physical presence being unreasonably difficult. Administrative Assistant: Elizabeth Mancini Other Attendees: Wendy Manz, Capital Expenditures Committee liaison to the CPC, Phil Hamilton, Chair, Conservation Commission; Carolyn Kosnoff, Assistant Town Manager for Finance. Ms. Fenollosa called the meeting to order at 3:02 PM and noted that the Board of Selectmen had authorized the release of the appraisal conducted for 44 Adams Street so the CPC was not required to discuss the project in executive session. 1) Ms. Kosnoff reviewed updated CPF balances with the Committee and reported that the fund had $1.8 million available for appropriation at the upcoming Special Town Meeting. The Committee also questioned if Ms. Kosnoff had prepared updated debt projections so they could consider those obligations. She advised there was approximately$20 million in outstanding debt obligations for CPA projects. 2) Mr. Hamilton updated the Committee on the Adams Street land acquisition. The property had appraised for$1 million and an additional $25,000 would be required for legal fees and closing costs. Mr. Hamilton clarified that the request originated from the Board of Selectmen, not the Conservation Commission. Mr. Kelley, the original project proponent, was unable to attend the meeting. Mr. Hornig, who had requested an adjusted appraisal prior to the meeting, believed $1 million was too high due to the existing conservation and access easement on the property. (The original appraisal did not consider the easement). The Committee did not received the adjusted appraisal prior to the meeting. 1