10/19/2009 Annual Town Meeting - Laserfiche WebLink

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This collection of 16 parcels comprising the 38 acres is commonly referred to as the"Dacey Properties". r The Petitioners recommend that the land be used for conservation and passive recreation uses,and further recommends that the Mashpee Conservation Commission utilize its funds, supplemented by other state and federal grant funds,to purchase these properties. Both the Board of Selectmen and the Finance Committee unanimously recommend defeat of this Article p on the basis that neither does the town's Conservation Commission have sufficient funds,nor has any a� d state or federal agency been approached by the Petitioners to determine if any grants are available to offset the cost. As a result, if such is the case,Mashpee's taxpayers will bear the full cost of this e i purchase. 1 fe THE FINANCE COMMITTEE OF ARTICLE 21 by a vote of 6-0. 11 In the absence of outside funding, approval of this Article could add as much as $0.10 per year for 20 years to the property tax rate. For the average home in Mashpee assessed at$450,000,the added cost would be $45 a year, or $900 over the 20 year life of the debt. But, of greater note, at a cost of $5,619,300, the cost per acre for the 16 parcels equals $147,876, or almost $150,000 an acre! 9� According to the Town Assessor the present assessed value of the 38 acres is only$1,505,800, or just under $40,000 an acre, and yields $10,525 a year in property taxes. Prime building land sells for $150,000 an acre. In the FinCom's view, it makes no financial sense to pay that amount of money ) y to purchase land simply for passive recreation and conservation purposes, especially in these economic times. THIS CONCLUDES THE BUSINESS TO COME BEFORE THE OCTOBER TOWN MEETING. y THANK YOU FOR ATTENDING AND PARTICIPATING IN TOWN BUSINESS AS THE N LEGISLATIVE BRANCH OF MASHPEE'S GOVERNMENT. h 11 ill - - )'�, October 19, 2009 Town Meeting r Page 10