05/04/2009 Special Town Meeting - Laserfiche WebLink

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i ARTICLE 18. Authorize Purchase of"Dacey Properties" for Conservation Purposes Submitted by: Resident Petition A resident petitioner requests approval for the Board of Selectmen to purchase, on behalf of the r `, Conservation Commission, sixteen (16) parcels of land totaling 38 acres of land located between Algonquin Avenue, Old Barnstable Road and Nathan Ellis Highway, also known as the "Dacey t l Properties". The cost of said purchase is $5,619,300. Purchase of these parcels will result in the land being designated as lands for conservation and passive recreation uses only. I Funds for this purchase are proposed to be appropriated from the Conservation Commission Acquisition of Land and Maintenance Account, and the land will be held in the care and custody q Y of the Conservation Commission. The Article also seeks authorization for the Board of ,FM Selectmen and/or the Conservation Commission to apply for and accept for a partial'` ' reimbursement for the cost of purchase and the incidental expenses related to the purchase of the land under the MA "Self—Help Act" or the Federal Land and Water Conservation Fund. In addition to the fact that in the Town Attorney's legal opinion, the Article is "unclear and contradictory about the potential source of funding for the land acquisition", an application for funding under the Community Preservation Committee was denied, because it did not meet the criteria as "Open Space", nor would the lands appear to qualify for state conservation funds. Further, at a total purchase price in excess of$5.6 million, and an average cost of$148,000 an acre, it is not financially prudent, in the view of the Finance Committee, to approve this Article, particularly in light of the need to create $5.5 million in capital debt for the construction of the new library in the very near future. THE FINANCE COMMITTEE RECOMMENDS DEFEAT OF ARTICLE 18. Vote: 6—0. This concludes the Finance Committee's review of the Warrant Articles scheduled to be heard at the May 4, 2009 Town Meeting. Prior to the Town Meeting, specific questions can be directed to the Finance Committee through its e-mail address: fincom(u)ci.mashpee.ma.us. Questions can also be asked at Town Meeting. I 'i i- N4 x , "N C r f:;'tFt i 21