HomeMy WebLinkAbout1993-01-07 Capital Improvements Advisory Minutesi-
s Improvements t Advisory Subcommittee
MEETING MINUTES
Mark Huber, Vice Chairman
George Thompson, Secretary
Victor Petri
Peter Hechenbleikner, Town Manager
,L'i'4}: i`a....'.°?'._,Lng was ;...field the a:iitdi.i'7r" ..''6`.:r:n s'::iiil (`"'stia,.,e ,,of:m,,
The rs: meeting was called to order at « p.m..
Jim ,`•Gr~>C.''•,.E, f':' ,•J' distributed a draft t"f purpose z the statement w.: . subcommittee.,
, i The document was discussed. The subcommittee agreed t review the draft
statement for the i.. next meeting.
Jim *l,.t .a t:.- •i discussed the School Committee was attended "
meeting that ',4 '
Mark i =.„.f.a
! ;.rt p :~ti e:..: v c1"t'y+ - x„..i.., .e<A The _hS, School Committee was :interested 3.;,
learning about the role `.i'X' the Capital improvements Advisory Subcommittee.
The School Committee also expressed interest :1. in i the criteria with which the
.i.,
Subcommittee will be evaluating capital : i_,i , i::, , . ,r „
The minutes of "i ` the November i•„! meeting were approved by the
i::.'
Subcommittee by i::, vote 4-0-0.
later f-•~i::.\r,.,3..}f::,•r},., r..,~.z:r. •...:f.a•~.a r . ,_s ' t.',.{:....5,:• t,.='i,r.L:::,{.,•In!,a' {'i'ti',:' surveys received ! . E ~.9 results back
:r..,x:.,4r'w:_.>
from i i ~.,.,°;G..~:::; towns
"'i',ii.••,.,:••a:_`dJ Wilmington,
Stoneham, and Franklin. Twelve 5 surveys were sent
out; four have been received to date. Peter discussed the surveys with the
Subcommittee; i#.;t,.5oi,„.t`an points brought out included.,,
had ,...t re, debt or i~::~:a3m:?::..P. .1....t • t•- r• y : t:7 S:fir, i... a~{.,}S
{t::: ,..t four towns .i.#'t'r,..ii ..:r`: it i'!':. policies,
C1 of the four towns had targets goals .v,; debt service or capital improvement spending,,
..i t 3"` debt service as a percent total purpose .,.„_:'K.,.kof _ f::i
ranged from .34% to 12.6%, and
Water and sewer debt „..f":.: levels ?:i,..; a percent F total water
and „ a e.... Ci €..t t_i t.::3 tr.•.._ , 3 ur''r:' u:f from o' 3 0% to 67.7%.
Peter ry,... 1t ,.f:,.^F.. .'"`ii;;J°a.!:,, r...Y l:.. ,"~•1i_~'#'-'.i.L..,f 4..., t 3+a%± e." debt capacity was C' e:::_ , ! , , . . s ~I"', a .,;a :...E':;_:.C,i?'.. ._~'"ii~.'!s p a. :'.4 .a,i"'1.':.?i''
w.,
by the Town Accountant. I. The analysis how much additional debt
reflected service costs town could the absorb assuming debt r,°:: ~e 7:..._" costs ...r 3 were
i..., .E..
maintained '.5;.. 5 i i.. f total expenditures. .i.,,'i
: :aa , , ,t The analysis ,...,...,,...J showed i... .,6
service costs associated with a `o~rt:'i'.".iissue #..y'; million 3a:; t•5,{.. a Of :i."'l..'.iti?;
rate. Based on ~'(,..'C:{:, analysis .t.`r,:,,!..1.3~:~ issue wI v' a...
, the ~:::iiL,.: {.::..:e f 't 'S'. d;:a between .J:'=.,.,...Y5•i years 1995 and r}00 still maintain debt
service
costs at of total expenditures,,
The C° ,_:::a;.,ar .y set the next ~ Thursday, January t~i{i• at :ex
i f"' {iiiYi;' k_. .c; meeting ' at..9t a. the Town
Hall at 6:30 p.m.. The •_,Jl_. of the next meeting ir',!:1, l._ be to review mission
e~
be meeting ..f t.Jl.. n,_",'t„i at f"i t. 3..°'..` 3_k 1#t a, n
{'•a. 5i..'t:": t.....»y.$$~+\~-l - Submitted,