7/8/2014 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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3 Cow-nunity Preservation Committee Minutes July 8, 2014 i COMMUNICATIONS & CORRESPONDENCE: Lewis Property—32 Collins Lane, 1 laah e, 3.3 Acres. A brief discussion followed with respect to the Lewis Property, a CPA project recommended to the May 2014 Town Meeting for the acquisition of open space and passive recreation. -The purchase price previously agreed upon by the CPC was$155,000. After debate at the May 2014 Town Meeting,the Mashpee Wampanoag Indian Tribe indicated they had an interest in purchasing the property. A 23rd,S vote passed at Ton Meeting tabled the discussion. Members of the CPC brought up the natter to reconsider the purehtse of the subject property at the October Ton Meeting. It was disclosed the Tribe has moved forward with them endeavor to purchase the Lewis property for the sum of$165,000. There was no further comment. APPO NTS &HEARINGS: Review&Approval of Articles pEgRgsed for October 2014 Ton Meetin . To articles are proposed for the October 2014 Torn Meeting warrant. The first annual article would set aside 10%of the estimated Community Preservation Funds ass required for Open Space Recreation purposes,Historic Preservation purposes and Affordable Dousing purposes to include the Budgeted Reserve as certified by the Town Accountant and reflected in the FY2015 CP-1 that is submitted to the Department of Revenue. The second article is a clean-up article to meet the requirement of reserving funds from the supplemental CPA FY2014 Trust Fund distribution. After receiving additional CPA funding from the FY2014 State budget, a total of$375,871, the .annual 10%is required to be set aside to the 10%Reserves. For this appropriation, it is not a requirement to set aside the 10%Reserves in the Open Space categorythe amount the Town paid in debt for open space purposes in Y 14 exceeded the additional $3 7,5 87.