8/28/2007 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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Community Preservation Committee Minute August 2 , 2007 Present: Wayne Taylor, Diane Rom elme er, Ed Larkin, Beverly Dane, Richard Halpern, Evelyn Buschenfeldt, Paula Peters, Ralph Shaw, Gus Frederick Meeting Called to Order by Chairman Taylor at 6:00 p.m. Town Hall, Conference Room#1 MINUTES: T'uesda'y, August 1 , 2007 Regular Session: Motion made by Ed Larkin to approve the regular Session minutes of Tuesday;August 14,2007 as presnted. Motion seconded by Ms. Rommelmeyer. VOTE: Unanimous., i With regards to the above referenced minutes p rtam* m" g to Ma tepee Village it was noted that recent communication with Kathy Roth of the CPA Coalition has given the opinion the Mashpee Village recapitalization project is not considered maintenance. The town has wide discretion with regards to the appropriation of funds for affordable housing using CPA funding. Also, it was also confirmed in recent consultation with the Housing Coordinator for the Cape Cod Commission(CCC),the Ma hpee Village recapitalization project is-not considered maintenance and it is allowable under the use of CPA funding. It is also the opion of the CCC Housing Coordinator that the sung of$90,000 would be adequate as the town's contribution to allow for the Mousing Stabilization Funds (HSF)to move forward. HSF funds contributing towards the project do not require dollar for dollar match. Presently, the Community Preservation 10%reserve fund balance under Affordable Housing is $90,535. For the record, Mr. Larkin indicated that he would be opposed to the Committee using additional reserves other than the 10% affordable housing reserve for the 1 lashpee Village project clue to budgetary constraints. For additional clarification, it was noted that correspondence was received from the Town Manager relative to mitigation funding for this project. A response from the Town Manager has indicated the funding; $265,000 is available to create new/additional affordable housing only and therefore cannot be used for the 1lashpee Village rehabilitation project.