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Coi i inunity Preservation Committee <br /> Minutes <br /> March 9,,2010 <br /> .APPOINTMENTS AND HEARINGS: <br /> Financial Overview: eontued <br /> As a result of budgetary constraints,the Conumunity Preservation <br /> Committee is unable to fund large projects at this time. 1t was noted that <br /> last year, the CPC received 31%ix matching funds from the Department <br /> of Revenue. This fiscal year a 28%match is anticipated. <br /> Discussion followed nth regards to utilizing the State match and <br /> appropriating 0%respectively a split of the remati g revenues for <br /> historic resources and affordable housing purposes. <br /> To date,the reserve balances for the May 2010 Town Meeting are a <br /> follows;the 10%reserve in Open Space is $301,074.63,the 10%reserve <br /> in Historical is $176,324.63 and the 10 reserve in Affordable Housing is <br /> $3011,074.63. <br /> Deliberations: <br /> Three projects were before the CPC for funding consideration at the 2010 <br /> May Town Meeting. The Committee conducted due diligence and <br /> reviewed each application in an equal manner. The following action was <br /> taken by the Committee for the listed projects; <br /> The Dacey Properties—Opgn Space <br /> $5,,612,,000 for approximately 38 acres of pristine commercial and <br /> residential zoned real estate located between Algonquin Avenue, Old <br /> mstable Road and Nathan Ellis Highway. If approved,the acquisition <br /> of these leis would directly connect to Town property. <br /> Motion made by liar.-Halpern to defer approval of The Dacey <br /> Properties application for CPA funding at the May 2010 Town <br /> Meeting. <br /> Motion seconded by Mr. O'Hara. <br /> VOTE: Unanknous. 5-0. <br /> 4 <br />