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<br />He stated that they will be using all future projected revenue not already committed to prior debt service from <br />the Wastewater Stabilization Fund consistent with conservative estimates for revenue growth and developed <br />internally. <br /> <br />Mr. Collins went on to report that they will be tapping the levy for a property tax increase based only on the <br />debt service not covered by the revenue streams previously mentioned. <br /> <br />He said that he expects the Phase 2 property tax increase, averaged over the 30-year life of the SRF loan, to be <br />about $75 per year for the average residential valued home, which is $772,000 in the Town of Mashpee. This <br />estimate does not include any operational adjustments or increases. <br /> <br />Mr. Cotton addressed the Commission stating that all options should be explored for sewering the Town of <br />Mashpee. He hopes that the Commission will not consider moving forward with betterments and continue on <br />the track that was set forth at the start of the project. <br /> <br />Andrew Gottlieb stated that he agrees with Mr. Cotton’s sentiments as it relates to betterments. He said with <br />the general, residential application betterments is not the way to go. He said the project has community wide <br />benefits and everybody in Mashpee will benefit from having cleaner water and to take a portion of the cost <br />and attribute it to individual homeowners, in addition to the other costs that they incur with sewer connection <br />costs and annual fees will represent an unfair and unreasonable burden to them. He encouraged the <br />Commission to continue on the course that they are on. He said the financing plan that the Town Manager <br />presented is fair and reasonable for the average person. <br /> <br />Michaela Wyman-Columbo stated that she supports the Town Manager, Select Board Chair, John Cotton and <br />Mr. Gottlieb. She said to be fair and equitable we should continue down the path that we were on in Phase 1. <br /> <br />APPOINTMENTS AND HEARINGS <br />None at this Time. <br />MINUTES <br />None at this Time. <br />OLD BUSINESS <br />None at this Time. <br /> <br />NEW BUSINESS <br />1. Briefing and Possible Vote on Betterment Figures as Presented by Wastewater Superintendent, Jared <br />Meader and Matthew Abrahams. <br />Jared Meader stated that whether betterments are applied or not they should be assessed in every Phase of <br />the project regardless of what promises were made in the past. He said we don’t know what’s going to <br />happen in the future, each Phase will be different and there could be more funding sources or less funding <br />sources. He said that he feels that they are obligated to the taxpayers to review every possible option. <br />Mr. Meader Introduced Matt Abrahams as a financial consultant to the Town and stated that he will be <br />presenting the most factual numbers they could come up with based on the information that they have. <br />The presentation outlined how betterments would affect the tax bill and was broken out to include 0%, 30%, <br />50% and 70% on 1,288 parcels that are included in Phase 2. <br />Mr. Abrahams stated that this analysis is related only to construction costs. He went on to say that his figures <br />are not being offset by any WIIF or Rooms Tax funding sources. <br />Mr. Abrahams gave his presentation. It is attached hereto. <br /> <br />2 <br /> <br /> <br />