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ti <br /> 2 <br /> Town o1 Mashpee.Estimated Property Tax Levi a uirements and finds <br /> Available For Offset,Fiscal Years 1997 Throu h 000 <br /> Mr. Whritenour distributed a copy of the Town of Mashee,Estimated Property Tax Lev, <br /> Requirements and Funds Available For Offset, Fiscal Years 7997 Through 2000 for <br /> discussion. <br /> Mr. Golub questioned the issues with Free Cash. Mr.Whritenour noted that there needs to be <br /> a minimum amount of Free Cash preserved for emergencies. Also,if they spend the free cash <br /> down to zero,they are penalized by Moody's and it affects their mond rating. <br /> Mr. Whritenour noted that on the Property Tax Relief Sheet,there are four years listed(1997 <br /> through 2000). Right now,they are in the P year which lists the Total Levy Limit a <br /> $21,1'74,944. The Funds to Offset the Tax Rate includes 100,000 from the Overlay Surplus <br /> and$1,3001,000 from Free Cash,for a total of$1,4001,000. <br /> Mr. Whritenour stated that without any Property Tax Relief at all,the levy would increase <br /> approximately 13.3%. with this Property Tax Relief Program,the increase in the levy would <br /> be reduced down to 6.3%. Mr. Whritenour noted that factoring in the proposed increase from <br /> the Board of Assessors on what the property valuation is,for F9 ,the tax rate will decrease <br /> 3.79%down from 14.3 5 to 13.8 1. He added that this is because of an increase in value of the <br /> town and not a decrease in spending. <br /> Mr. Whritenour co xnented on FY2000 in that there is a reduction in debt of about <br /> $1 1>0005000. He stated that this will help in that they won't have to put as much money in the <br /> Property Tac Relief Program. Some of the projects included in the debt exclusions are the <br /> middle school and numerous conservation land purchases—various projects funded in the <br /> 19 's. <br /> There was discussion regarding New Growth. Mr. Golub questioned the new growth <br /> numbers for FY2000. He noted that Estimated New Growth under the Property Tax Levy was <br /> listed as$350,1000 and where New Growth is deducted,the amount is$ . It was noted <br /> by Mr. Whritenour that New Growth should be listed as$450,000. <br /> October Town Meeting,Article 7—Study of Nitrogen Loading: <br /> Chairwoman Goulart requested Mr. Whritenour to discuss Article 7. Mr. Whritenour <br /> commented that this was the study of the nutrient management in the Popponcs et Bay <br /> System_ This is one of the key studies the watershed Management Committee is conducting <br /> to try to get a handle on the exact extent in the nature of the problem with nitrogen loading in <br /> the M shpee River watershed System. He noted that this is a precursor to what will <br /> eventually become a facilities management plan. He stated that this is just the beginning. <br /> October Town Meeting,Article 1 —Public Park at Collins Lot: <br /> Mr. Whritenour stated that the amount of$51000 is an estimate for funds to design a park at <br /> the Collins lot in conjunction with the millennium. Right.now they are trying to develop <br /> master plan. <br /> October Town Meetin Article 40—Algonguin Avenue: <br /> Mr. Whritenour stated that his understanding is that this Article will be pulled and it will be <br /> brought back in May. He noted that there was a public hearing last night with the residents <br /> of Algonquin Avenue. He noted that basically,the residents were not in favor of the project <br /> as outlined. He said they are going to tape another look at it. <br />