CPC Minutes

Meeting date: 
Friday, November 9, 2018
Truro Community Preservation Committee Minutes of Meeting of November 9, 2018 Truro Town Hall

Present: Co-Chair Deborah McCutcheon, Co-Chair Mary Rose; Maureen Cronin, Richard Larkin, Robert Lowe, Jane Petterson; Paul Wisotzky, Selectmen liaison
Regrets: Peter Herridge, Bonnie Sollog

Co-Chair Deborah McCutcheon called the meeting to order at 4:15 p.m.

Bonding Possibilities for Cloverleaf Project                            
Town Manager Rae Ann Palmer was present to discuss bonding for the future Cloverleaf Community Housing project.  Deborah McCutcheon suggested that a combination of funds would be needed, and Rae Ann Palmer said that bonding with Town and CPA money would be possible.  Co-Chair McCutcheon said that CPC would need to plan ahead.  Rae Ann Palmer said that the appropriate time for bonding would be after the debt for Poor’s Hill was extinguished in FY20. Deborah McCutcheon said a consultant could offer guidance on bonding plans.  Ms. Palmer said she is already thinking about a person to plan for bonding.  CPC considered use a long-term planner, possibly paid by administrative money.  Ms. Palmer said the Town has a bond consultant, a financial adviser for authorizations and advice.  Ms. Palmer offered to have a meeting with the Co-chairs to discuss bond planning further. 

Deborah McCutcheon said she would like to have a consultant create a 5- to 7-year plan that reports the best use of a bond.  Mary Rose said the Town financial adviser could make the term that involved CPA money.  Deborah McCutcheon said an independent consultant may be needed in the future. 

Minutes of 10/12/18
Mary Rose moved to approve the minutes of September 14, 2018.  Robert Lowe seconded, and the motion carried 6-0.

Membership & Attendance
Rex McKinsey has resigned from the Recreation Committee and CPC.  It will be hard to get a replacement person since the Recreation Committee is not functioning.  Peter Herridge has not been attending meetings; Deborah McCutcheon will contact him. 

Finances Available
The Committee examined the available funds for the Fiscal Year 2020 projects.  The requests exceed the money available. 

New Project Applications
Five applications had arrived – three for Community Housing and two for Historic Preservation.  The total amount requested is $658,761.  The Truro Housing Authority (THA) requested the 10% Community Housing allotment or more for the Affordable Housing Trust Fund.   The estimated 10% for FY20 is $55,444. THA requested $40,000 towards predevelopment expenses for the Cloverleaf property.  Cape Housing Institute (CDP) submitted a request for $7,500 as Truro’s contribution towards the third Cape Housing Institute.  Castle Hill requested $263,000 for Phase Four historic preservation of Edgewood Farm.   The Truro Historical Society asked for $292,817 for the historic restoration of the Highland House Museum Phase IV. 

Initial monitor assignments for the project applications are as follows:
Robert Lowe -  Highland House Museum
Richard Larkin - Edgewood Farm
Mary Rose & Maureen Cronin – THA Trust Fund and Cloverleaf Predevelopment
Jane Petterson - Cape Housing Institute

Meeting Schedule
The Committee planned the meeting schedule for the new proposals:
Friday, November 30,2018 at 4:15 p.m.: scrutiny of applications
Friday, December 14, 2018 at 4:15 p.m.: invite grant applicants to explain and answer questions
Monday, January 14, 2019 at 6 p.m.: public hearing
Thursday, January 24, 2019 at 6 p.m.: rain date for hearing
Friday, Feb. 1, 2019 at 4:15 p.m.: decisions on grants

Richard Larkin moved to approve the schedule of meetings.  Jane Petterson seconded, and the motion carried 6-0. 

Existing Project Concerns
Richard Larkin asked about repurposing of money from Snow’s Park/Town Green to Puma Park.  Mary Rogers will contact Susan Howe to request a written application that details how this money is to be used with a reminder that it may not be used for maintenance purposes.

Adjournment
Richard Larkin moved to adjourn.  Mary Rose seconded, and the motion carried 6-0.  

The meeting was adjourned at 5:13 p.m.

Respectfully submitted,

Mary Rogers,
CPC Administrative Consultant

Public Records Material of 11/9/18
Applications for projects are filed in the permanent CPC records.