Town of Sharon

Community Preservation Committee

Minutes of 03/26/09

Amended and Approved on 7/22/09

Committee Attendees

Corey Snow - Chair	Jane Desberg
Arnold Cohen  - Clerk  - absent	Susan Rich
Allen Garf - absent	Betsey McGrath - absent

Guests

None

Chair’s Report

Chair Snow began the Chair’s Report at 7:10 PM. He stated that Betsey McGrath, the Conservation Commission representative to the CPC had resigned and that a new member would be appointed.

Treasurer’s Report

Mr. Snow provided an overview of the CPA FY10 cash and revenue status. He said that the approximate starting balance for FY 09 was $9,500 and the approximate available starting balance for FY10 would be $350,000. These are uncommitted funds and some from projects that came in less than what was allocated for expenses. The estimated revenues for FY10 would be $370,000 on 7/1/09 from the Town with a projected 29% match from the state which would equal $107,300 for a total of $477,300. When the debt, principal and interest are deducted there would be approximately $209,300 left. He also commented that he was unsure of any applications that would be forthcoming.

Mr. Snow said that he met with Treasurer Bill Fowler and they moved $200,000 to a six month CD earning 2.8% interest and wants to move additional amounts in order to manage the CPC monies better.

Mr. Snow reported that $100,000 had been appropriated to the pumping station project but only $51,950 was expended which is half of the budgeted amount.

Ms. Rich moved to recommend that $20,000 be allocated for fiscal 2010 administrative expenses. Ms. Desberg seconded the motion. The committee voted 3-0-0 in favor.

Projects

Ms. Desberg reported that the Housing Partnership may be requesting money for a project and Ms. Rich said there may be an application from the Historical Commission.  Mr. Snow said there is not much awareness that we have funds available for projects. Ms. Rich thinks we should be proactive with smaller projects. Ms. Desberg provided a sample application from the Town of Plymouth for CPC projects and commented that she likes their specified criteria.

Ms. Desberg said if the match amount from the Town decreases, what will the feeling be about continuing the CPC. Mr. Snow said one Town tried to make their contribution so small but it did not pass. The CPC needs to be kept active for another 5 years. He said the debit issued is a general obligation to the Town. CPC mechanism is discretionary.

Meeting Minutes

Ms. Desberg moved to accept the minutes of 2/26/08 as written. Mr. Snow seconded the motion and the Committee members voted 2-0-1 in favor. (Ms. Rich abstained).

Other Items

1.  Ms. Desberg reported that she attended the celebration of the life of former CPC member George Bailey.

Officer Elections

Officer elections continue to be postponed due to the entire committee not being present.

Next Meeting

5/28/09

Meeting Adjournment

Ms. Desberg moved to adjourn the meeting at 8:15 pm and Ms. Rich seconded the motion. The Committee voted 3-0-0.