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MASHPEE ECONOMIC DEVELOPMENT AND INDUSTRIAL CORPORATION <br /> MINUTES OF MEETING HELD <br /> FEBRUARY 2, 2016 <br /> TOWN HALL—ADMINISTRATIVE CONFERENCE ROOM <br /> Present: Carol Sherman, Chairman . <br /> Terrie Cook <br /> Mary LeClair <br /> Robyn Simmons <br /> Dino Mitrokostas <br /> Denise Dutson <br /> 1. Carol Sherman, Chairman, opened the meeting at 5:32 p.m. <br /> Chairman Sherman introduced and welcomed the new member of the committee, Denise <br /> Dutson, to cover the real estate component ofEDIC. <br /> Chairman Sherman announced that Tom Mayo, Assistant Town Manager, is recuperating <br /> from surgery and will be out until March 1'. <br /> 2. Approval of Minutes—April 14, 2015 <br /> Terrie Cook moved to approve the minutes of April 14, 2015, seconded by Robyn <br /> Simmons, Vote 4-0-2 with Mary LeClair and Denise Dutson abstaining <br /> 3. Old Business <br /> 1. Investment Options <br /> Chairman Sherman stated that Tom Mayo contacted some banks and received quotes <br /> from Coop Bank of Cape Cod and Rockland Trust to invest the $170,000 the members <br /> approved at their last meeting. Denise Dutson suggested investing $50,000 every three <br /> months and that way monies would be available every three months. The members <br /> reviewed the quotes and agreed to form a subcommittee to get more details from the <br /> banks mentioned and other banks and investors. Mary LeClair, Dino Mitrokostas and <br /> Carol Sherman will be on the subcommittee to get info and quotes and evaluate the <br /> information and bring their recommendations to the members at their next meeting. <br /> 2. Update on RESET project <br /> Chairman Sherman noted we have a new point person for the RESET project at the Cape <br /> Cod Commission, Phil Dascombe. She informed the members that Mr. Dascombe sent <br /> an email today and said he would get the review together and get an update to us by the <br /> end of the week. The Chairman briefly explained the RESET program which consists of <br /> 5 tasks. 1. Chapter H Assessment, 2. Hotel Feasibility, 3. Development options in four <br /> areas of Town, 4. Fiscal impact model, and S. Infrastructure Assessment <br />