10/15/2007 Annual Town Meeting - Laserfiche WebLink

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and Hiacoombs Way in the Town of Mashpee. The property was built in 1974 and received moderate renovation in 1 3. Capital repairs are deemed necessary for the viability of this affordable housing community. Mashpee Village was successful in obtaining an award of approximately $5,000,000 in state and federal resources for the preservation of the property, the Town's largest single affordable housing community. Housing Stabilization Funds (HSF) require a contribution of local funds. Approval of CPA funding will allow the release of HSF funds, an award of$750,000. Construction is anticipated to begin in early 2008. The article was submitted by The Community Builders, owners, and managers of Mashpee Village. The Board of Selectmen recommends approval by a vote of 5-0. The Finance Committee recommends approval by a vote of 6-0. Motion made by Selectman Theresa Cook. Motion-. I move the town vote to appropriate and transfer from the Community Preservation Fund Affordable Housing Reserve, in accordance with the provisions of M.G.L. Chapter 44B Section 5, $90,535 for the purpose of funding the rehabilitation of the Mashpee Village, an affordable housing community, including necessary costs and expenses related thereto, as recommended by the Community Preservation Committee. Motion passes unanimously at 7:26 PM. Article 12 To see if the Town will vote to appropriate and transfer $20,000 from the FY2008 Community Preservation Budgeted for Appropriation Reserve to the Community Preservation Administrative Purchase of Services, Account for the purpose of administrative and operating expenses of the Community Preservation Committee; said sums to be spent in accordance with the provisions of G.L. Chapter 44B upon recommendation of the Community Preservation Committee, or take any other action relating thereto. Submitted by the Community Preservation Act Committee Explanation: This article will transfer funding into the Community Preservation Act Administrative Purchase of Services Account to cover secretarial support and other related expenses. The Board of Selectmen recommends approval by a vote of 5-0. The Finance Committee recommends approval by a vote of 6-0. Motion made by Selectman John Cahalane. Motion: I move the Town vote to appropriate and transfer $20,000 from the Community Preservation Fund Budgeted Reserve for Appropriation to the Community Preservation Administrative Purchase of Services Account for the purpose of administrative and operating expenses of the Community Preservation Committee; said sums to be spent in accordance with 8