08/15/2024 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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10 Community Preservation Committee Minutes August 15, 2024 OLD BUSINESS Update on Acquisition of Pickerel Cove Properties; Vote to take action on placeholder Article for October Warrant regarding Return of Funds: It was reported that negotiations relative to the acquisition of the Pickerel Cove properties have been successful. Town Counsel is preparing a Purchase & Sale Agreement for the acquisition of the Pickerel Cove properties as previously defined. This process is anticipated to be complete in approximately 40 days. To conform to the requirements of the CPA Act, it is necessary to secure an entity TBD to hold the Conservation Restriction on said properties. The placeholder article to return unused funds from the Pickerel Cove Acquisition project is not required to be approved by a vote of Town Meeting. In regular practice, the Community Preservation Committee votes to close out a project and return the respective funding to the CPC coffers to the category in which the funds were derived. ADDITIONAL TOPICS Return of Unused CPA Funds from Pickerel Cove Acquisition Project: Motion made by Ms. Waygan to add to the agenda, the above referenced topic as an unforeseen topic of review. Motion seconded by Ms. Wyman-Colombo. VOTE: 8-0. Unanimous. Roll Call Vote: Ms. Russell, yes Mr. Klein, yes Mr. Hyde, yes Ms. Waygan, yes Ms. Barbee, yes Ms. Wyman-Colombo, yes Mrs. MacDougall, yes Mr. Schmuhl, yes Opposed, none Motion made by Ms. Waygan to rescind the prior vote of the CPC to place an article on the October warrant to return unused CPA funds associated to the Pickerel Cove Acquisition project in the amount of $1,641,000 to the CPC Undesignated Fund Balance, and notify the Finance Director of this action. Motion seconded by Selectman Wyman-Colombo. VOTE: 8-0. Unanimous. Roll Call Vote: Ms. Russell, yes Mr. Klein, yes Mr. Hyde, yes Ms. Waygan, yes Ms. Barbee, yes Ms. Wyman-Colombo, yes Mrs. MacDougall, yes Mr. Schmuhl, yes Opposed, none