2/16/2017 FINANCE COMMITTEE Minutes

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4 Flnanc e Coni nuttee Minutes February 16, 2017 FY 18 Bud et Review in re aration for IIT 2017 Town II�Ieetir� (continued) In continuing to discuss the ramifications of the Cape Cod Technical School project there is serious concern as this is not the only project the Town of Mashpce is required to plan for. Additional challenges include the Quasbnet School project, the road maintenance program, capital projects and wastewater mandates. The presentation made by the technical school at the last Selectmen's meeting was further discussed. Of note-was the Donahue Report prepared by Mass Amherst regarding long-term population projections for Massachusetts regions and municipalities. It was recommended the Town Manager gather input from participating municipalities regarding this project and to see if other member towns are also raising a cautionary flag on this project. A district-wide election to authorize the debt is scheduled to be held on October 24, 2017+ If the Torn of Mashpee was to vote against the debt authorization,the majority of the twelve district communities would rule. The prof ect is presently in the feasibility stage,and the final figures have not yet been determined. The schematics, scope and budget should be completed in August before the warrants are sent to the member toms for the October election. At this time it is projected the M BA would reimburse 0-40%of allowable costs. In further considering this matter, it was agreed this exercise has been positive. The benefits of the project and the value to the students were weighed. Town Manager Collins reaffirmed he is reviewing all alternatives, and it is the intent of the town to not abandon any student an education at the Cape Cod Technical School. The project 'in itself will take approximately two years before the residents would realize additional taxation. Although enrollment is relatively flat,a neer school may present the ability to attract more students. It was agreed that any questions regarding the budget would be directed to the Town Manager, In continuing to seek methods to enhance the revenue stream Town Manager RodneyC. Collins indicated he has been review ng projected tax receipts from the sale of recreational ma %j uana. Not advocating for marijuana establishments,the use of an approved and secure facility such as the Medical Marijuana Dispensary on Echo load may be an option to consider. It was agreed the Town Manager would forward the cost projection to the Finance Committee for additional t review..