2009-04-27-CPC-min - Laserfiche WebLink

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calculated debt service of 2.0M and 4.0M at 5 and 7 year terms. He explained that as of July 1, 2009 the CPC will have approximately 6.7M and as best as can be estimated, will have revenues of 3.9M annually. (The latter was calculated at the 29% state reimbursement rate.) The Committee was generally comfortable with bonding for a short time frame, (5-7 years). Ms. Fenollosa brought up the issue of additional large land acquisitions for which the CPC should be ready, and the group agreed there were few, except perhaps the 14 acre Wright Farm. 3.Article 7 – Administrative overrun – The Committee had previously reviewed Article 7, which dealt with the administrative overrun due primarily to benefit costs and legal fees. The overrun amounted to a total of $25,000 which broke down accordingly; $8,000 in administrative costs, $16,500 in legal fees, and $500 in miscellaneous costs. The Committee voted 8-0 to approve this Article. 4.Thank you letter to state legislators – Ms. Weiss asked for approval of a letter she had written to the State legislators thanking them for their support of Senate Bill #90, “An Act to Sustain Community Preservation”. Committee members agreed unanimously to approve the letter. The meeting was adjourned at approximately 5:12 pm. Respectfully submitted, Nathalie Rice Administrative Assistant Community Preservation Committee 3