HomeMy WebLinkAbout1992-08-19 Board of Selectmen Executive Session Minutes Minutes of the Board of Selectmen Executive Session
August 19, 1992
The Board went into Executive Session at 7: 33 p.m. in the Con-
ference Room at Town Hall, 16 Lowell Street, Reading, Mas-
sachusetts. Present were Vice Chairman George Hines, Secretary
Sally Hoyt, Selectmen Eugene Nigro and Bill Burditt, Town Manager
Peter Hechenbleikner, Town Counsel H Theodore Cohen. At ap-
proximately 9: 07 p.m. they were joined by Nelson Burbank, Kenneth
Latham, and Brad Latham.
on motion by Nigro seconded by Hoyt the minutes of 7/14/92 were
approved as amended by vote of 4-0-0.
On motion by Nigro seconded by Burditt the minutes of 7/21/92
were approved as amended by vote of 3-0-1 with Hoyt abstaining.
On motion by Nigro seconded by Burditt the minutes of 8/4/92 were
approved as amended by vote of 4/0/0.
The Town Manager introduced the subject of the ice rink. A draft
lease agreement and memo from Town Counsel were reviewed. The
Town Manager indicated that he and Town Counsel had met with
Nancy Shipes from CPDC regarding the ice rink and procedures.
The private non-profit corporation has been filed and an I.D.
number is expected in one to two weeks and final approval in two
to three months.
The Board discussed how problem resolution would be dealt with
within the terms of the lease. The possibility of an annual
report to the Board of Selectmen was discussed. The Board of
Selectmen suggested a rent level after year one to be based on
the tax value of the land being used based on the assessed valua-
tion. That would form the base rent. Beyond that the Board dis-
cussed the possibility of requesting 10% of the net income after
operating expenses and the reserve fund was set up, until such
time as Mr. Burbank's entire collateralized amount had been paid
back. The Board talked about trying to have the reserve defined.
The Board decided that the Town would plow the access driveway
from Haverhill Street to the beginning of the property to be
leased. The bylaws for the non-profit are in the process of
being finalized with some changes suggested previously by the
Board of Selectmen. The Board of Selectmen indicated that they
would not appoint their member to the Board of Directors until
the lease had been approved.
In discussions with Messrs Burbank, Latham and Latham, the
Board's comments were discussed. Hayes Engineering is the en-
gineer for the project, with GZA their environmental engineers
and Van Ness Higgin their traffic engineers. Mr. Burbank is very
reluctant to pay anything other than the "base rent" until such
time as his loan for the project has been paid off. He indicated
that he spent $25, 000 to date and will have spent $50, 000 to
$100, 000 by the end of the year and this is not tax deductible.
Mr. Burbank agreed to a $200, 000 reserve, subject to increasing
it annually by the CPI. In an emergency situation the reserve
could be increased with the approval of the Board of Selectmen.
Board of Selectmen - 8/19/92 Exeuctive Session - page 2
Mr. Burbank indicated that he would agree to language that would
"use best efforts to have public skating in an amount subject to
limitations of insurance and operating expenses. "
An additional session was set up for September 9 at 7:30 p.m.
On motion by Nigro seconded by Burditt the Board voted to adjourn
at 11: 00 p.m. All four members voting in the affirmative the
meeting was adjourned.
Respe tfully submitted,
Secret y