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4 <br /> Capital Improvement Program Committee <br /> Minutes <br /> January 23, 2017 <br /> APPOINTMENTS & HEARINGS <br /> Review&Approval of FY18 CIP Projects proposed for the MLay 2017 Town Meeting Warrant: <br /> (continued) <br /> Motion made by Mr. Gottlieb to appropriate and transfer from the following accounts as <br /> listed to fund the Capital Improvement Program for fiscal year 2018 in the amount of <br /> $812,167; <br /> Free Cash $502,247 <br /> Cable Funds $ 50,000 <br /> Ambulance Receipts $250,000 <br /> Revolving Funds $ 9,920 <br /> Total FY18 Capital Budget: $812,167 <br /> Motion seconded by Mr. Gasior. <br /> VOTE: Unanimous. 4-0. <br /> Roll Call Vote: <br /> Mr. Collins,yes Mr. Gottlieb,yes Mrs. Thayer,yes <br /> Mr. Gasior,yes Opposed, none <br /> OLD BUSINESS <br /> Review of Proposed Capital Building Bond&Use of Excess Bond Proceeds: <br /> The Capital Improvement Program(CIP)Committee reviewed capital projects prioritized for <br /> funding within a proposed capital building bond. All projects are identified in the Planning& <br /> Construction capital needs program. The estimate for"inside dcbf'within the town's levy limit <br /> considers a twenty year bond in the amount of$1.5 million to fund thirteen capital improvement <br /> projects. <br /> This is a cost reduction as the original bond estimate which was projected to cost$3 million. <br /> Absent from the list of projects detailed within the $1.5 million bond is the proposed DPW <br /> storage garage and parking improvements as costs have not been fully determined. <br />