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HomeMy WebLinkAbout2011-03-28-CPC-draft **** DRAFT **** Minutes of the Community Preservation Committee Monday, March 28, 2011 7:00 pm Ellen Stone Room Cary Memorial Building Present: Board Members: Wendy Manz,Chair; Marilyn Fenollosa, Vice-Chair; Joel Adler, Jeanne Krieger, Leo McSweeney, Sandy Shaw, and Betsey Weiss. Administrative Assistant : Nathalie Rice Also in attendance was David Kanter, member of the Capital Expenditures Committee (CEC). The meeting was called to order at 7:00 pm by Ms. Manz. 1.Busa Farm Debt Service – The Committee voted (7-0) to approve the bonding of the debt service for the purchase of the Busa Farm. The debt service is $974,600 for FY 2012, $216,885 of which will be offset from Free Cash attributable to the premium and accrued interest when debt was issued in February of 2010. 2.Cotton Farm Debt Service – The Committee also voted (7-0) to approve the debt service for the bonding of the Cotton Farm acquisition. Ms. Manz explained that $500,000 in LAND grant funds were due to be received by the Town, which would offset the debt service payment of $1,300,604. 3.Administrative Budget – The Committee approved $150,000 for the Administrative Budget for FY 2012 with a (7-0) vote. 4.Report of the CPC to Town Meeting – The Committee voted (7-0) to accept the CPC Report to Town Meeting subject to final editing. The report is due to be released on April 4, 2011. 5.Updates – Ms. Manz updated the Committee on two of the articles for Town Meeting. She noted that the Battle Green Master Plan Implementation project would be moving forward at $50,000, and that the Selectmen had approved the Plan, subject to their authority to review and amend the plan.. She said the proposed work on the fountain would remain as part of the project, but that this portion of the Master Plan Implementation would be approved by the 1 Selectmen and other Town boards and committees before any restoration work on the fountain was undertaken. Ms. Manz also noted that the Muzzey Window Replacement Project would be indefinitely postponed as the proponents of the article preferred means of financing other than through the CPA; members were aware of this. She also th noted that the CPC articles had a time-certain date of April 6, and that Article 17, which proposes to reduce the CPA surcharge from 3% to 1% was to follow the CPA articles. The CPC meeting was adjourned at 7:25 pm. Respectfully submitted, Nathalie Rice Administrative Assistant Community Preservation Committee 2