HomeMy WebLinkAbout1998-08-10 ad Hoc - Capital Improvement Advisory MinutesCapital Improvement Advisory Subcommittee
Minutes
8110198
Carol Grimm, Catherine Martin and Jim Kiegley met with Peter Heckenbleckner,
Beth Klepesis at 10 am in the conference room at Town Hall. The subcommittee
has not yet reorganized as liaison assignments for the FINCOM will be decided
at a later meeting of the FINCOM.
An updated financing plan for the Capital plan was provided. It was noted that
the SBAB reimbursement schedule for the Parker has been revised downward
and sent to the SBAB for approval, reflecting the lower construction and interest
costs. The actual interest rate obtained was 4.56%.
The proposed demolition of Lot 10, Brande Court was discussed. Mr. Rubin, of
the Atlantic Supermarket, has purchased the lot which abuts the town parking lot
behind the store. He is proposing that the town accept his donation and either
move the building or demolish it, and expand the parking area. The estimated
cost is $40K. The proposed donation will be on the warrant for the Special Town
Meeting on September 14. It was asked whether public hearings had been
scheduled to determine how the neighborhood felt about the proposal.
Jim noted his opposition to using Free Cash as a funding source as the Free
Cash levels are currently below the FINCOM goal of 5%. Beth noted that Lottery
receipts are expected to be $175K to $250K higher that.. projected-