4/10/2007 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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i 3 Community Preservation Committee Minutes Apr*l 10, 2007 APPOINTMENTS AND HEARINGS: John T. Wheldon—St. Vincent's Horne.Co oration: (continued) The parcel intended for open space abuts the MMR. The northeastern segment of the parcel has frontage on waleby Pond at the Pickerel Cave section and provides a corridor of wildlife habitat. At one time,the property was used as an overnight camp,and the property was used solely as a youth day carp until 1995. The lard has been on the market for several years. Vere have been offers by developers seeking to include 500 its within 40B projects. The property development offers have ranged from$4.9 million to $3.75 million. As ars a4emati a to development, St. v cent's Monne Corporation is requesting the Town consider the purchase for the purpose of open space. The location offers accessibility for the community to waeby Pond. The Town of Mashpee assessment, maps and photographs were contained in the application proposal. The total frontage on Route 130 i approximately 800'. The frontage on Wal eby Pond-is approximately boo'. The existing structure on the property is unusable. Vere are noted site utilities for electrical service. Due to budgetary constraints, Mr. Wheldon was asked to consider an acceptable period of time for payment. In response, it is the preference of St. Vincent's Dome Corporation to liquidate the asset as soon as possible. The price quotation as presented is discounted-and most likely not negotiable. A three-year time fi-ame to allow for purchase is estimated, but not fully guaranteed. It was noted the Committee will be reviewing an updated spreadsheet of all debt to 2026 at the next met g. Discussion followed regarding the Self H1p Grant Program and the use of CPQ.funds with added Town approved funding as an initiative for purchase.