6/9/2020 FINANCE COMMITTEE Minutes

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3 Board of Selectmen Minutes June 9, 2020 OLD BUSINESS Continue discussion on the June 15 2020 Town Meeting Warrant, possible Action on Warrant Articles and Recommendations for the Special and Annual Town Meetings: (continued) Article#9 —Acquisition of Chopchaque Cranberry Bo andUpland Properties: The article was approved by the Community Preservation Committee for sum not to exceed $675,000. It was disclosed the subject appraisal was $640,000. Final negotiations brought forth an agreement in the amount of$599,000 between the respective parties for the acquisition of the Chopchaque Cranberry Bog and surrounding upland properties pending Town Meeting approval. Discussion followed with respect to the proposed acquisition of the property. The goal of this project is to mitigate the water quality in Santuit Pond through freshwater restoration. The property will also improve wildlife habitat and provide open space for passive recreation. In the remediation process, the flooding of the bogs will assist to capture phosphorus within Santuit Pond and mitigate nitrogen in the groundwater to lessen the loading in Popponesset Bay. Motion made by Mr. McKelvey to approve Article 9 as presented. Motion seconded by Mr. Miller. VOTE: Unanimous. 5-0. Roll Call Vote: Mr. Richardson,yes Mr. McKelvey,yes Mr. McCahill,yes Mrs. Furbush,yes Mr. Miller,yes Opposed, none Continued discussion of June 15, 2020 Town Meeting Warrant: Members of the Finance Committee agreed the last discussion with the Town Manager and his Finance Team was very thorough and informative. Town Manager Rodney C. Collins indicated the Town has conducted due diligence, and in the event of unforeseen circumstances the budget would be further assessed in October. Revenues have increased, and the Town is expected to be reimbursed for COVID-19 expenditures. There is concern the State Aid budget will reduce revenue estimates anticipated to fund the FY21 budget, however, the Town has not received any information regarding the proposed reductions to date. The Finance Committee would be apprised of any budgetary changes. With regards to the June 15, 2020 Town Meeting Town Manager Collins gave reassurance the budget has been fully vetted. As a result of conservative budgeting, the Town is in a favorable position to move forward with the articles with the funding mechanisms as planned. The main focus of this warrant is to maintain the operating budget of the Town of Mashpee.