HomeMy WebLinkAbout1997-11-19 ad Hoc - Capital Improvements Advisory MinutesCAPITAL IMPROVEMENTS ADVISORY SUBCON IITTEE
November 19, 1997
CIAS met at 7:30pm in the Employees Lounge at Town Hall. Present at the meeting
were Carol Grimm, Peter Hechenbleikner, Cathy Martin and Nate White.
The group approved the minutes of the September 30,1997 meeting by a vote of 3-0.
The majority of the meeting was spent reviewing in detail each line item on the latest draft
of the Capital Improvement Program.
-Unfortunately closure of the Landfill has escalated to $5.6million from $1.6million, it is
quite possible the sale will not cover the cost of capping. In previous plans there was an
assumption that a grant would offset some of the cost of closure, this assumption has been
dropped for the time being.
- We requested backup information on the $9million project at Coolidge.
- The elementary building project is now spread out with $300,000 in FY99 for planning
and design and $7.39million in FY00 for construction. There will be more information
available on this project once the Enrollment Committee finishes its work.
-The DPW Vehicle Maintenance expansion calls for $40,000 in design work in FY99 and
$500,000 in construction costs in FY01. We asked for cost justification of this project,
how much will the Town save by consolidating vehicle maintenance at the garage.
-We requested Open Space acquisition be put back to every other year funding and any
large acquisition be done as an override.
-The swimming pool is still in as a partial override of $1.5million and $500,000 in debt
funded through the capital plan. The swimming pool remains an unresolved issue.
-$25,000 is scheduled for a pavement management computer model to be done by an
outside consultant.
-The Mill and Short Street sewer project was moved to FY00.
-$75,000 is in Water Capital to hire a consultant to help the Town begin the process of
determining its options regarding the water treatment plant.
Annual appropriations for FY99 are currently projected at $1.1million versus $967,000
planned last year. The financing plan needs further modification. We discussed the
r~
CAPITAL IMPROVEMENTS ADVISORY SUBCOMMITTEE
November 19, 1997
possibility of using less conservative interest rates, 6.0% on 20 year debt, 5.5% on 10 year
and 5% for BANS.
Given the bulk of borrowing under this 10 year capital plan takes place in the next 24
months, no one had an objection to revising the interest rates down.