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33 3 Selectmen's Meeting April 10, 1984 Mrs. Planning Board Chairman, voiced that Board's support of Article 59, noting that access roads are their only major concern. In response to Mr.. Eddison, Mr. Smith said that although the Conserva- tion Commission has not seen an actual offer by developers of $2,500,000 for the land, he is sure that the offer has been made and according to the appraiser, would not be unreasonable. William Dailey, Chairman of the Appropriation Committee, stated the support of his committee for Article 59 and asked the Selectmen's and Con- servation Commission's reaction to his proposal for bringing it up prior to financial articles. Mr. Marshall raised a question as to whether the owners would actually elect to expand to 18 holes. He expressed interest in development within the structure -of the agreement that would allow the Town the alternative to construct affordable housing on the 6.2 acre,contiguous'.parcel. He will confer with Commissioner Smith for his - judgement as to whether pressing that aspect with the owners would jeopardize negotiations. Mrs. Battin, Mr. Eddison and Mr. Marshall reached decision in support of the proposal, with methods of financing still to be explored. Mr. Sacco and Mr. McLaughlin both indicated that they still had ques- Lions as to their support. Mr. Marshall was in favor of'bonding over a 20 -year period, rather than 5- or 10--, and felt that long term funding was appropriate for purchase of an asset on a 50 --year bas-i.s Mr. Hutchinson could see merit in the 10 -year bonding but opposed the longer bonding period because it could lead the Town to a less creditable P OW financial situation. Following further discussion of short- and long -term financing, the Board reached consensus in favor of the 10 -year bonding period. Mr. McLaughlin added that he would like to see a 20 --year schedule developed for comparison. The issue of a referendum to exclude the purchase expense from the limita- tions of Proposition 2 112 was discussed with respect to procedural and time elements. It was agreed by Mrs. Battin, Mr. Marshall and Mr. Eddison that such a referendum on extraordinary expense, possibly in a form not singling out a single item, should be anticipated for a future year and not at this time. Upon motion duly made and seconded, it was voted to recommend 10 -year bond- ing in discussion of the proposal with the Appropriation Committee, and to .take that position if the Board votes to support acquisition. Upon motion duly made and seconded, it was voted 3 - 0 by a majority of the Board, with Mr. Sacco and Mr. McLaughlin abstaining, to support the acquisition of the Pine Meadows Golf Course to be financed by 10-year Mr. Hutchinson reported on Ms. Adler's research as to opening of lots for development if Emerald Street were to be. constructed as a cul -de -sac. One Street 18,000 sq. ft. lot,- in which: the Housing Authority has expressed interest Acceptance. for scattered site housing, could become developable. He noted that a lot on Emerald Edna Street may be buildable depending upon whether it is "grandf athered" and Sunny two additional Emerald Street lots near Asbury Street may be considered build- Knoll Av( able following final determination, without further street construction. Regarding the 27,000 sq . ft. s ite on Bellflower, there appears to be no prac- tical way to subdivide.