04/01/2024 SELECT BOARD Minutes - Laserfiche WebLink

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9 Select Board Minutes April 1,2024 WATER QUALITY UPDATES Phase Il-Wastewater Project; (continued) The debt service plan relies on the following: Obtaining a 0% State Revolving Fund (SRF) loan. Mashpee's eligibility was confirmed and is contingent on the continued compliance of the Flow Neutral Bylaw and voter approval of the project in May, 25%principal debt relief from the Cape & Islands Water Protection Fund, of which written confirmation has been received; 3.3%principal forgiveness provided by the Mass Clean Water Trust per their regulations and formula; Using all future projected revenue not already committed to prior debt services from the WIIF and Wastewater Stabilization Fund; And, tapping the levy for a property tax increase based only on the debt service not covered by the revenue stream as referenced above. It is expected the Phase II property tax increase, averaged over the 30-year life of the SRF loan,to be approximately $75 per year for the average residential home value, approximately valued at$772,000. The estimate does not include any operational adjustments or increases. With the Select Board's approval,this information would be delivered to the Sewer Commission at then April 2, 2024 Special Meeting. This guidance would also be distributed to provide the voters with the information as a common-sense approach of the facts in perspective and to allow the voters to make their decision based on the facts in preparation for the May 6, 2024 Town Meeting. The Select Board expressed high regard to the Town Manager for his due diligence on this matter. TOWN MANAGER UPDATES In recognition of l'briner congressman William.Delahunt, Town flags will be flown.at hall'sta . With respect to Tribal.nnatters, it was disclosed the Town is in support for Tribal funding for the La Plaza del so] motel on Main Street, :route 130,Mashpee. In other matters,the Town Manager is working on rnnodifcations to enable the t1tridinu.g of the Parsonage Project which would require formal al approval fronrn the Tribal. Council, the Select Board and.Conn nanity Preservation Committee. The 10 hip limit it on Santau.it Pond will take affbet on April 15, 2024. Town][fall will be closed on April. 15,2024 in observance of"Patriots Day.