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9 <br /> Community Preservation Committee <br /> Minutes <br /> January 14, 2021 <br /> APPOINTMENTS & HEARINGS <br /> Review Discussion&Possible Action on the following CPC Application proposed for the May <br /> 2021 Town Meeting: (continued) <br /> It was disclosed the use of CPA funds for appraisal costs is an eligible use of CPA funding. <br /> There is no commitment from the CPC at this time to move forward with the project. Regardless <br /> of the outcome, there may be some added litigation. <br /> Due to uncertainties and legalities Mr. Larkin indicated that in fairness to the taxpayers, an <br /> opinion is necessary from Town Counsel. <br /> COMMUNICATION & CORRESPONDENCE <br /> Report of CPA Finances: <br /> The Community Preservation Committee received an update of CPA Finances from CPC <br /> member Dawn Thayer. With the appropriation of the additional 10% reserves to be voted upon <br /> at the May 2021 Special Town Meeting,the available balances are reflected as follows; <br /> 10% Open Space/Recreation Reserve $310,090 <br /> 10%Affordable Housing Reserve $520,170 <br /> 10%Historical Purposes Reserve $492,230 <br /> Budgeted for Appropriation Reserve $1,089,748 <br /> Undesignated Fund Balance $4,057,321 <br /> Recommendation to Form an Open Space Committee: Correspondence from Glenn McCarthy <br /> dated January 13, 2021 recommending that an Open Space Committee be formed to prioritize <br /> land parcels for purchases, hold preliminary discussions with property owners, and bring forth <br /> applications to the Community Preservation Committee. There was a question as to who would <br /> be the appointing authority for this committee,the CPC, Town Moderator or Select Board. <br />