9/9/2008 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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S Co iunity Preservation Committee Minutes September 9, 2008 COMMUNICATIONS CORRESPONDENCE: Catherine Laurent—One Room Schoolhouse: (continued) Motion made by Ms. Peters to combine the budgets of Phase I and Phase fI to accomplish the goal of completing the renovation and restoration of the one Doom Schoolhouse. Motion seconded by Mr. Halpern. VOTE: Unanimous. Mr. Taylor abstained. OLD SNESS: Liaison AssigMents—Update. Quashnet Tennis C urt; The Quashnet Tennis Court Construction project is deemed complete with a newly installed backboard. The $104,000 CPA funded project has derived under budget by $1$,179.42. MashNe High School Track Resurfain The project is deemed complete. CPA fimding in October 2007 authorized the expenditure o $69,300. The bid award was $45,200 which has brought the project under budget assumptions by $24,100.'00 With respect to surplus funds,the question was asked if it is necessary for, the Committee to vote to secure surplus funding to the CPA fund balance. Use of Land Bank Funds; It was noted that surplus bond proceeds were used to fund the fuel depot. Included in the appropriation was unexpended amounts previously borrowed by the Town that were no longer needed to complete the prof ects. These prof ects includes the Peck Property Land purchase $41,926,the Melia Property Land purchase $25,000 and the lrlashpe Place Land purchase $4,470.23. The Committee asked if surplus Land Bark funds would revert to the CPC. A previous response from the Town Manager indicated the funds were left over from funds borrowed to purchase the properties. Bond Counsel also approved the use of the proceeds for the fuel depot.