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3 <br /> <br /> <br />Capital Improvement Program Committee <br />Minutes <br />February 2, 2017 <br /> <br />Capital Building Bond: <br /> <br />Members of the CIP Committee reviewed the list of projects prioritized by the Director of Public <br />Works identified in the Planning & Construction capital needs program. After consulting with <br />the Treasurer/Tax Collector it was determined a Capital Building Bond in the amount of $1.5 <br />million would suitably fit within the levy limit as the first payment of $300,000; inside debt for <br />both principal and interest would result in fiscal year 2021. Under the constraints of the bond <br />authorization, projects must be funded within a three year time frame. <br /> <br />The CIP reviewed the capital undertakings recommended for funding under the Capital Building <br />Bond. After reviewing projects relative to lighting and energy efficiencies, it was agreed that <br />several of the projects under consideration for funding by the bond may be eligible to receive <br />contributions through the Cape Light Compact and MA Green Communities. <br /> <br />In contemplating future grant funding alternatives, it was agreed the Treasurer/Tax Collector <br />would be consulted regarding the use of the Capital Building Bond on road maintenance projects <br />that could be improved within the three year funding constraint. In addition it was determined <br />the Capital Building Bond would earmark funding needs within the five-year Capital <br />Improvement Program such as, replacements and upgrades as deemed necessary within the <br />allotted time frame as recommended by the Board of Selectmen. <br /> <br />Motion made by Mr. Richardson to approve and recommend a Capital Building Bond in <br />the amount of $1.5 million to fund various capital improvement projects identified in the <br />CIP Program to include with the Treasurer/Tax Collector’s approval; road <br />maintenance/repair and improvement projects to be accomplished within the three year <br />constraints of the bond as recommended by the Board of Selectmen. <br />Motion seconded by Mr. Gottlieb. <br />VOTE: Unanimous. 5-0. <br /> <br />Roll Call Vote: <br /> Mr. Collins, yes Mr. Gottlieb, yes Mrs. Thayer, yes <br /> Mr. Gasior, yes Mr. Richardson, yes Opposed, none <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />