2015-03-04-CPC-min - Laserfiche WebLink

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Minutes of the Community Preservation Committee Wednesday, March 4, 2015 Parker Room, Town Office Building 1625 Massachusetts Avenue 3:00 pm Committee Members Present: Marilyn Fenollosa, Chair; Richard Canale, Norman Cohen, David Horton, Jeanne Krieger, Leo McSweeney, Bob Pressman, and Richard Wolk, Vice-Chair. Committee Members Absent: Sandy Shaw Also in attendance was David Kanter, Vice-Chair of the Capital Expenditures Committee. The meeting was called to order at 3:09 pm by Ms. Fenollosa. 1.Reports to Town Meeting and Special Town Meeting – Ms. Fenollosa reported on comments received on the Community Preservation Committee Report to 2015 Annual Town Meeting that had been distributed to all Committee members. She also noted that after conversations with the Town Manager, he recommended that the Wright Farm purchase not be funded using historic resource funds, but rather limited to open space and affordable housing funds. If deemed a historic resource, three restrictions would be required: a conservation restriction, a historic restriction and an affordable housing restriction. The CPC members suggested the conservation restriction include language for protection from demolishing the barn. Mr. Wolk reported that the roof of the barn is relatively new. Mr. Pressman recommended leaving flexibility if all assets were not being used on the property in four years. Mr. Wolk commented that over time, new members may try to convert the conservation land back to open space. Ms. Fenollosa asked opinions of other members of the CPC. Open space and affordable housing language will be included in the Town Meeting report. Motion made by Mr. Wolk and seconded by Ms. Krieger to accept the language currently in the Town Meeting report for the category for the acquisition and use of Wright Farm property to be affordable housing and open space, 7-1 in favor. Mr. Pressman voted in opposition. 2. Vote on Article 30, Amend FY 2015 Operating, Enterprise and CPA Budgets – Ms. Fenollosa reported that an additional $1,000,960 needs to be taken from the FY15 CPA budget under Article 30 at Annual Town Meeting to repay $1,000,000 principal and $960 in interest on the Bond Anticipation Note that was issued for the Cary Memorial Building upgrades last year. The BAN was converted to a 10 year bond in February, less $1 million that was reissued as a short term note coming due in June. This note will be repaid at that time with FY15 CPA funds.