Finance Committee Meeting

Minutes – November 13, 2006

Sharon High School Library – 6:00 P.M.

Members Present:  Joel Alpert, Maria Anderson, Charles Goodman, Jonathan Hitter, Ira

Miller, Laura Nelson, Edward Philips, Gloria Rose, Gregory Sydney

(Hamilton)

                Absent:   Brian Fitzgerald, Kenneth Goldberg, Joel Lessard

1. This meeting took place prior to the Town Meeting.  The Finance Committee needed to make recommendations and to discuss the most recent information on Article 2, Horizons for Youth land purchase.

2. Ira Miller recused himself from deliberations and voting on Article 2, Horizons for Youth, upon advice of Town Counsel Richard Gelerman.  Gloria Rose then chaired the meeting.

3. Gloria Rose stated that the article we are voting on is not in the Warrant.  There is an article that replaces it.  George Bailey and Corey Snow were invited to discuss Article 2 regarding Community Preservation Act funds.

4. George Bailey stated that this was one project that was on the Community Preservation Committee’s interim project plan.  We worked along with the Selectmen.  We came up with $1 million, then raised to $1.2 million to commit our expected revenues to this project.  We could handle it within the requirements of borrowing of five years.  We would take out the debt service from our local commitment.  Because of more towns using the Community Preservation Act, we may have three more years for 100% matching funds.  It may then go down to 80%.

5. There was much discussion held between George Bailey, Corey Snow and the Finance Committee.

6. A MOTION was made by Joel Alpert for indefinite postponement of Article 2.

7. There was more discussion.

8. The motion was SECONDED by Greg Sydney.

9. VOTED:  3-4-1.  For:  Alpert, Nelson, Sydney.  Against:  Anderson, Hitter, Philips, Rose.  Abstain:  Goodman.

10. A MOTION was made by Jon Hitter and SECONDED by Ted Philips to amend the amount of borrowing up to $1.2 million on Article 2.

11. VOTED:  4-4-0.  For:  Anderson, Hitter, Philips, Rose.  Against:  Alpert, Goodman, Nelson, Sydney.

12. There was more discussion regarding a school to be built on that land, the waterfront property, and restrictions on the land.

13. It was MOVED and SECONDED to adjourn.

14. VOTED:  8-0-0.

15. The meeting was adjourned at 7:05 P.M.