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2 <br /> Community Preservation Committee <br /> Minutes <br /> January 2 , 2007 <br /> NEW BUSINESS: <br /> Review of Financials: <br /> The Committee reviewed a spreadsheet of FY 2007 estimated revenue <br /> which included the 10% reserved appropriation for open space, historical <br /> and affordable housing as required by the CPA Act. <br /> In accordance with Schedule A4,the 3% real estate surcharge raised from <br /> FY $886,334 received a 100% Mate reimbursement match. However, <br /> the Committee was cautious about maintaining adequate reserves as fixture <br /> State reimbursement revenue is unknown due to budgetary constraints. <br /> 1t was disclosed the 2007 debt payment for the land bank is $977,467. <br /> The anticipated total debt for-2008 is$1,180,879. The debt payment will <br /> increase in 2008 as a result of bonding for the land acquisitions referenced <br /> s Mashpee Place and Atta juin Park Collins Lane, approved for purchase <br /> with funds moved from the land bank for purchase under the Community <br /> Preservation Act. A cash flow estimate Will be presented to the <br /> Committee in spreadsheet format through 2019 at the next meeting for <br /> additional review. <br /> i <br /> Deliberations: <br /> The Committee requested additional information from the applicants to <br /> assist with criteria associated to deliberations. <br /> Correspondence was received from Town Counsel dated January 22, 2007 <br /> and October 25, 2006 respectively regarding the procedure for <br /> implementation of the proposed Mills Family land transfer. It was noted <br /> the Committee requested an opinion of Town Counsel at their last meeting <br /> regarding access and utility easements which might impact the subject <br /> property. <br /> Paula Goldberg, Compact of Cape Cod Conservation Trusts presented <br /> summary to the Committee regarding the benefits of the land purchase. <br /> Letters of support were included from the Division of Fisheries <br /> Wildlife,the Association to Preserve Cape Cod (APCQ, and the M shpee <br /> Environmental Coalition. An email message of support was also received <br /> from Laura Herbst, a former board member of the Orenda Wildlife Land <br /> Trust. <br />