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6 <br /> Community Preservation Committee <br /> Minutes <br /> October 6, 2022 <br /> Review of Available Account Balances: (continued) <br /> The CPC since its inception in 2005 has funded many worthwhile projects expending <br /> Community Preservation Act funds in the following categories; <br /> Total Open Space/Recreation Projects: $8,812,045.72 <br /> Total Affordable Housing Projects: $2,377,175.56 <br /> Total Historical Projects: $1,532,889.18 <br /> Debt payments during this time period amount to $15,308,603. This is attributed to former Land <br /> Bank purchases. Over the years the Land Bank debt has been significant. The debt for FY 2023 <br /> is now$720,700. The debt expiration for the remaining land purchases; Mashpee Place (Pine <br /> Tree Corners)and Attaquin/Route 130 is expected to expire in 2026. <br /> Other than assuming responsibility for the Land Bank,the Community Preservation Committee <br /> has never taken on any debt. <br /> As mandated by the CPA Act,the Community Preservation Committee is strictly a <br /> recommending committee. Applications are received and reviewed for the eligible use of CPA <br /> funding, and acted upon for final recommendation to the legislative body, Town Meeting. <br /> OLD BUSINESS <br /> $tatus Update-751 Main,Street A.l'I Is <br /> The Appraisal Company of Cape Cod, Inc. has been secured to conduct the 751 Main Street <br /> appraisal. It is anticipated the appraisal would be completed before the end of December. <br /> Currently,the landowners attorney is working on granting authorization for the appraiser Mike <br /> Sutton to enter the 8-acre site. <br /> The project was voted upon by the CPC at their September meeting to be considered for Open <br /> Space purposes at the May 2023 Special Town Meeting. <br />