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3 <br /> Board of Selectmen <br /> Minutes <br /> February 13, 2012 <br /> OLD BUSINESS: <br /> Application for Permit—One-Day All Alcohol License—Mashpee Board of <br /> Library Trustees: <br /> It was disclosed the application submitted by the Mashpee Board of Library <br /> Trustees to hold a fundraiser dinner/dance has been withdrawn as the February <br /> event has been cancelled. <br /> FDIC Working Group Update: <br /> The ad hoc committee formed to review the Request for Proposals to develop a 6- <br /> acre site on Commercial Street agreed to formally defer the project at this time to <br /> focus on completing the transfer of the 2.6 acre site to the FDIC located within <br /> the Industrial Park. <br /> It was noted that Town Counsel was involved in the review, and it is <br /> recommended the Board of Selectmen move forward to execute and record the <br /> deed to transfer the subject 2.6 acre parcel. It was also recommended the <br /> Selectmen obtain a Directors & Officers Liability policy for the FDIC for one <br /> year to give the FDIC the ability to obtain a 501 3c status and establish a funding <br /> source to move forward to sustain itself. The cost of the policy for one year is <br /> $885.00 <br /> It was noted the parcel was transferred to the Town through a development <br /> agreement negotiated with the Cape Cod Commission. The voters at the October <br /> 2008 Town Meeting authorized the transfer of the 2.6 acre site to the Mashpee <br /> Economic Development and Industrial Corporation for development and use as <br /> the FDIC may determine. Such possibilities for seed money include the creation <br /> of an incubator building or by sale of the subject property. <br /> Motion made by Selectman Cahalane to execute and record the deed for the <br /> 2.66 acres +1- as shown on Assessors' Map 88 as Block 29 to the Mashpee <br /> EDIC, and further obtain a Director's and officers Liability policy for the <br /> EDIC for one year to allow the EDIC to develop their own funding sources as <br /> the EDIC may determine. <br /> Motion seconded by Selectman Richardson. <br /> VOTE: unanimous. 4-0-1. <br /> Roll Call Vote: <br /> Selectman Taylor, yes Selectman Richardson, yes <br /> Selectman Sherman, abstained Selectman Cahalane, yes <br /> Selectman O'Hara, yes Opposed, none <br />