HomeMy WebLinkAbout2000-05-02 Board of Selectmen Executive Session Minutes Board of Selectmen Meeting
Executive Session
May 2, 2000
The Executive Session convened at 7:00 p.m. in the Conference Room, 16 Lowell Street,
Reading, Massachusetts. Present were Chairman Sally Hoyt, Vice Chairman Matthew Nestor
(arrived at 7:30 p.m.), Secretary George Hines, Selectmen Camille Anthony and Matthew
Cummings, Town Manager Peter I. Hechenbleikner, Town Counsel H Theodore Cohen and
Craig MacDonnel, Board of Assessors members Bob Nordstrand and Mollie Ziegler, Assessor
Dave Billard, Finance Director Beth Klepeis and Paula Schena.
Litigation with Cedar Glen — Craig MacDonnel noted that the Cedar Glen Associates had filed
a petition with the Appellate Tax Board over the amount of excise tax that they are paying and
the Board of Assessors has been negotiating with them for a couple of months. The proposed
settlement includes a FY98 valuation of$5 million; FY99 valuation of$5.2 million; the Town
will return $88,450 to Cedar Glen; the age, tenant selection and affordability restrictions remain
preserved.
If the Town agrees, then the Town has to request to DHCD that the 121A be terminated. Town
Counsel Ted Cohen noted that if the State does not approve, then the deal cannot go through.
Craig MacDonnell noted that the payment will be made in two installments— first $40,000 at the
signing of the document and if the DHCD does not approve then the $40,000 comes back to the
Town.
Selectman Matthew Cummings suggested that the $40,000 be held in escrow until we get a
response from DHCD.
The Selectmen will approve the settlement in Open Session.
On motion by Hoyt seconded by Anthony, the Board of Selectmen voted to adjourn the
Executive Session at 7:45 p.m. On a roll call vote all five members voted in the affirmative and
the Executive Session was adjourned.
Respectfully submitted,
S,ecretarry- - �� �