HomeMy WebLinkAbout2010-04-26-CEC-min Capital Expenditures Committee (CEC) Meeting,April 26, 2010, 8 00 AM, Town Office Building,
Room 207
Members Present: David Kanter, Charles Lamb (Chair), Ted Edson (Vice-Chair), & Shirley Stolz
Member Absent: Bill Hurley
Others. George Burnell (Selectman), Charlie Hornig (as a Town Meeting Member), Deb Mauger
(Selectman), Norm Cohen(Chair, Board of Selectmen), Susan Cusack (Commission on Disability),
Carl Valente (Town Manager), & Rob Addelson (Assistant Town Manager for Finance & Town
Comptroller)
Discussion of Accommodating General-Fund Debt for Town Office Building Renovation (Article 8(1))
Staff and Board of Selectmen propose to start portions of 3 of the new municipal projects 6 months
later so that the debt service for Article 8(l)'s $640K General-Fund won't increase the FY2011 debt
service amount in the approved budget. Those deferrals are $101K of the $240K for Head-End
Equipment Replacement, Phase III, $99 5K of the $170K for Reconstruct and Equip Town Office
Building Server Room, and $160K of the $260K for Storm Drainage Improvements. With the deferrals
of those portions and the elimination of the budgeted debt service for the Marrett/Waltham Intersection
Traffic Signal Poles—as it will be Indefinitely Postponed as the State will pay for them—the projected
FY2011 debt service would be $9,211 less than in the budget. Projected debt service for FY2012 would
decrease by $14,285—with $65K-63K net increases in the projections for FY2013 to FY2015
The proposed $260K for storm drain work is broken down as $100K for consultant work and $160K
for construction(i.e , storm-drain-related street improvements) The Department of Public facilities
(DPF) has already deferred $160K of FY2010 money for storm drain work from last year There is no
issue involved of a lack of DPF staff to manage the work.
The CEC voted 4 0 in favor of proposed debt schedule
Susan Cusack made the point that ADA-related issues should not be under referendum and that is the
reason for ADA in the first place (i.e., make it law, not a vote)
Discussion of Cotton Farm(Article 9)
Sentiment (pending Community Preservation Committee's vote on the purchase) regarding financing:
In principle and consistent with our prior position, long-term bonding should be deferred as long as
possible, use cash as first priority and then short-term bonding with aggressive payback as the second.
Adjourn. 10 00 AM
These Minutes were approved by the CEC at its meeting on April 28, 2010