8/23/2005 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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2 Community Preservation Committee Minutes August 23,200 Organization: Motion made by Ms. Rommelmeyer to nominate Wayne Taylor to serve as Chairman of the Community Preservation Act Committee. Motion seconded by Ms. l uschenfeldt. VOTE: Unanimous. 7-0. Mr. Taylor abstained. Motion made by Ms. Dane to nominate Diane lornmelrneyer to serve as vice-Chairman of the Community Preservation Act Committee. Motion seconded by Ms. l uschenfeldt. VOTE: Unanimous. 7-0. Ms. Rommelmeyer abstained. Motion made by Mr. Taylor to nominate Edward Larkin to serve a Clerk of the Community Preservation Act Committee. Motion seconded by Ms. Kane VOTE: Unanimous. 7-0. Mr. Larkin abstained. Finances: Based upon 2004 figures, it is estimated the Town of Mashpee would be eligible for approximately $800,000 in Mate matching funds. The community preservation surcharge of %is assessed on real estate taxes beginning the fiscal year after the Act is accepted. To receive distribution from the State trust fund,notification of the Towns 2005 receipts must be certified no later than September 15,2005. Matching funds are thea distributed to participating communities in October. i The Act requires 10%to be spent or reserved for Connninny Mousing, 10%to be spent or reserved for Historic Preservation and 10%to be spent or reserved for Open Space Acquisition. The balance, 70%, may be spent in any one or a combination of the three main uses, including recreational purposes at the discretion of the Community Preservation Committee. The money is cumulative and can be spent in subsequent years. The Committee reviewed the cash flow estimate for the program. It was noted that all permanently borrowed and permanently bonded funds are committed. Available finances will be further discussed at the next meeting.