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-x <br /> Page <br /> that they will be- receiving more- revenues than expected. He f e-It <br /> it is great for the Town' s bond rating, offers a tax relief program <br /> and also leaves Stabilization and the Capital Improvement Program <br /> in a nice position. The group discussed the $5 .6 million in funds <br /> available and reviewed scenario two which had been agreed upon <br /> previously. The Town now has more flexibility and the group <br /> discussed ways in which to apply this extra money. The- Executive <br /> Secretary mentioned that Representative Cahir has committed to <br /> Mashee some kind of reform, approximately $800., 000.. Mr.. Golub <br /> asked if it would arrive prior to. the tax rate being set . Mr. <br /> whritenour felt that yes it would be. Marcia King, Assessor, was <br /> also present and mentioned that technically legislature was out of <br /> session until. January. Mr. Golub asked if the Finance Committee <br /> tales- a position of placing 2 million on the. tax rate. and the <br /> $750, 000 then came in, $2, 750, 000 would then be applied to the tax <br /> rate. The Executive secretary answered yes . Mr. Goggin asked why <br /> the $750, 00-0 would have to automatically revert to the tax rate . <br /> Mr. whritenour answered that all State revenues are calculated <br /> first and offset the budget and the remainder goes to property tax. <br /> The tax rate is set in November. If the money comes in afterward <br /> it becomes Free. Cash. Chairman Golub then asked the Executive <br /> Secretary"s suggestion for offsetting the tax rate? <br /> Mr. Whritenour answered that he is very supportive of tax rel.i'of, <br /> but worries about spikes which could occur in FY98 F98and F 9 . He <br /> felt that increasing each of the three yews by $250, 000 would keep <br /> it comfortable and place the remainder in Stabilization. The group <br /> discussed the figures at great length. Mr. Golub felt that more <br /> should be placed in tax relief the first year. Mr. Golub felt that <br /> there should be a of increase in taxes this year. Mr. Goggin asked <br /> the goal for Stabilization. Mr., whritenour felt a goal should be <br /> 10 of operating budget. Stabilization is currently at $1, 250, 000 <br /> and the Finance Committee is recommending placing another million <br /> into Stabilization. Mr. Golub felt that the last time the group <br /> reviewed this scenario they did not have this. extra $750, .0.0. and it <br /> should be used to offset the tax mate. He suggested putting $ <br /> million toward tax relief and not $1 .5 million as Mr. whritenour <br /> suggested. It was- agreed that Mr. Bacigalu i, Mr. Kumin and Mr. <br /> Whritenour would work these. numbers again and present them on 9/30 . <br /> Mr. whrit n ur said that he would contact Mr. Bacingalupi and Mr. <br /> umin. <br /> Mashpee/Wakeby Homeowner's Association <br /> Jim McGonagle was present. on behalf of the above mentioned <br /> association. Mr.. McGonagle mentioned that his association is <br /> trying to establish a study of the- herring ladders because of the <br /> problems currently. He felt that the ladders aren' t working. The <br /> Association would like. to get professional advice. Mr. Golub asked: <br /> what this group asks of the Finance Committee. Mr-. McGonagle <br /> answered that they wished the Finance Committee would table and <br /> delay the article until the studies are clone. Mr. McGonagle also <br />