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<br />payments, in essence “mortgaging the Town’s future” and (2) whether to <br />establish a bottom balance in the Undesignated Fund Balance in order to <br />prepare for uncertainties such as Special Town Meetings. The Committee <br />briefly discussed these ideas, and Ms. Manz added that a further metric in the <br />decision making process might be the rates at the time of the anticipated <br /> <br />bonding. <br /> <br /> <br /> <br />3.Review of Capital Projects – <br />The Committee reviewed seventeen capital <br />projects, which had been received from the Finance Department. They <br /> <br />included the following: <br /> <br />a. Undesignated Land Acquisition TBD <br />b. Cary Library Preservation Project $10,000 <br />c. Police Station Renovation Design and Eng. TBD <br />d. Building Envelope Project $69,000 <br />e. Muzzey Senior Center Improvements $45,100 <br />f. Cary Hall and TOB HVAC Work $35,000 <br />g. Police Station Ventilation System $29,700 <br />h. White House – Comprehensive Assessment $25,000 <br />i. Stone Building Stabilization $200,000 <br />j. Town Office Building Renovation $1,642,000 <br />k. Cary Memorial Hall Venue Improvements $30,000 <br />l. Minuteman Bikeway Preservation $320,000 <br />m. Stormwater Mitigation, Marrett Road/Old Res. $190,047 <br />n. Center Playfields Drainage $875,173 <br />o. Cotton Farm Land Acquisition TBD <br />p. Archives and Records Management $150,000 <br />q. Cary Hall Signage $19,000 <br /> <br /> <br />There was considerable discussion about the land acquisition projects, and <br />Ms. Weiss questioned whether a Land Acquisition Committee had been <br />formed for the proposed acquisitions. Mr. Cohen responded that the <br />acquisition in question, the Cotton Farm, (Cataldo) in all likelihood would <br />only be sold to the Town under the condition that it be used for conservation <br />land. A lengthy discussion ensued in which the Committee discussed <br />varying perspectives on the value of a Land Acquisition Committee. Ms. <br />Weiss and Ms. Manz made the point that in the Leary acquisition process, <br />the values of affordable housing and historic preservation were initially <br />bypassed. They stressed the need for a broad-based approach when the <br />Town anticipates land acquisitions. Conversely, Mr. Wolk expressed his <br />opinion that the Conservation Commission was the appropriate board to <br />initiate land acquisition negotiations. <br /> <br />2 <br /> <br /> <br />