CPC Minutes
Community Preservation Committee
Minutes of Thursday, August 24, 2022
Virtual Meeting
Attending: Gary Sorkin, Chair; Michael Fisher, Jim McAuliffe, Elaine McIlroy, David Mead-Fox, Janis Plaue, Geraldine Ramer, Fred Streams
Regrets: Rhonda Fowler
Also Attending: Selectboard Liaison Barbara Carboni, Town Administrator Richard Waldo
Chair Gary Sorkin called the meeting to order at 9:00 a.m. He welcomed Barbara Carboni, liaison from the Selectboard. Ms. Carbone provided information on her background as Truro Town Planner and Land Use Counsel. Members of CPC introduced themselves to her.
Minutes of 8/4/2022
Jan Plaue moved to approve the minutes of August 4,2022. Michael Fisher seconded, and the motion carried 7-0.
Finances
Gary Sorkin reviewed the spreadsheet of all distributions from Wellfleet and the State, placed side by side with yearly use of CPA funds. He, CPC Coordinator Mary Rogers, Town Administrator Rich Waldo, Town Accountant Nick Robertson, Town Treasurer Cameron Scott and Special Accountant Lisa Souve met and discussed the figures on August 23, 2022. Although there were corrections made to an earlier version of the spreadsheet, and some of the distributions are estimates, there is a difference of $1,776,050 between the inflow of CPA money and the money spent or set aside for Community Preservation purposes. Accounting figures showed an available balance of $653,150 for Fiscal Years 2021 through 2023. This approximated CPC records for the same period of time, but it left $1.1 million unreconciled.
Gary Sorkin said that the Warrant Article for Maurice’s Campground would proceed with the money that is certain, but if the figures do change, there may be another CPC meeting before Special Town Meeting to recommend an amended Article. Committee members discussed where the unrealized money is and a Town Land Bank/CPA account of over three million dollars that has accumulated. Chair Sorkin mentioned that there are balances still to be determined for interest accrued on CPA accounts and balances for any projects that have not been expended. A Warrant Article for 2023 Annual Town Meeting could clear up interest and return of unused grant monies. This would provide Accounting and CPC with an accurate balance for moving forward.
Vice-chair Janis Plaue expressed her relief that there was money, as she had always maintained, in CPA accounts to continue beneficial projects for the Town. Town Administrator Rich Waldo said the accounting team is still working on the balance available to use on a grant for Maurice’s.
Special Town Meeting Article 7
Gary Sorkin said that the outright grant money from CPA for the three acres of affordable housing restricted land currently consists of $144,617 from the undesignated fund balance and $41,417 from housing reserves. This totals $186,034 that does not have to be included in the debt schedule. He explained how the assessed value of the three acres was determined. The assessment is a 45-page document, but in the end the assessed value was placed at $645,000. Because this will be a deed restricted property, the Town is prohibited from selling it. Next, Chair Sorkin displayed an estimated 30-year bond schedule with an interest rate of 4.5% based on a bond of $458,966. With interest of $320,129 added to the principal of $458,966, the total cost of the debt is $779,995. The Community Preservation Act specifies that only local surcharge money can be used to pay for debt service. Gary Sorkin said that the debt schedule is within the parameters of what CPA Wellfleet surcharge will cover for a 30-year term. While it might be possible to pay for the three acres as an outright grant, the Accounting Department would have to verify that there was CPA money to do this.
Amended Motion for CPA Funding & Deed Restriction for Maurice’s Campground
In order to amend the CPC motion for Special Town Meeting that had been approved at the last meeting, Chair Sorkin placed the motion on Screen Share for all to see.
Jan Plaue moved to amend the July 20, 2022 motion for Article 7 with the correction of “Map 47” and the final sentence with the ending, “funds shall not exceed $125,000 in any subsequent fiscal year.”.Elaine McIlroy seconded.
David Mead-Fox asked about a change before Special Town Meeting or making changes on the floor at Town Meeting. Gary Sorkin recommended making any changes beforehand, but changing the grant/debt mix could be outside the scope of the Warrant Article.
A roll call vote was taken on the amendments:
Jan Plaue, aye; David Mead-Fox, aye; Elaine McIlroy, aye; Jim McAuliffe, aye; Michael Fisher aye; Geraldine Ramer, aye; and Gary Sorkin, aye.
The motion carried 7-0.
Money Update
Accountant Nick Robertson joined the meeting with an accounting update on available CPA funds. He and Lisa Souve had found the missing money that had been typed into the CPA Budgeted Reserve as $76,851 when it was actually $706,851. He said they had proven the corrected number against the accounting system. He said use of any of the Budgeted Reserve for STM Article 7 was a question for Town Counsel.
Town Administrator Rich Waldo clarified that Town Counsel and Bond Counsel would give an opinion on whether or not a change in the CPA mix of funds for Warrant Article 7 goes beyond the scope of the Article as it appears in the STM Warrant.
Municipal bonds cannot be prepaid, but CPC is interested in avoiding the debt service if that is possible. At this time, the Committee is proceeding with the original plan to contribute $144,617 from the Fund Balance and $41,417 from the Community Housing Reserves for a total grant of $186,034 and to take on the 30-year debt service.
If the Budgeted Reserve cannot be used at Special Town Meeting, the money is still available for future CPA projects that will need funding. Gary Sorkin discussed the process of using the various allotments of CPA money.
Revised Warrant Article 7 Recommendation for Special Town Meeting
Jan Plaue moved to recommend Special Town Meeting Article 7, the Purchase of Maurice’s Campground. David Mead-Fox seconded.
In a discussion of the Special Town Meeting motion for the Article, David Mead-Fox asked if it was possible to make amendments at Town Meeting. Gary Sorkin said that amendments from the floor are possible, but it would be better to make any changes before Special Town Meeting.
A roll call vote was taken for the CPC recommendation of Article 7:
Michael Fisher, aye; Geraldine Ramer, aye; Jan Plaue, aye; Jim McAuliffe, aye; Elaine McIlroy, aye; Gary Sorkin, aye; and David Mead-Fox aye.
The motion carried 7-0.
Updated CPC Membership Terms
Rhonda Fowler and Fred Streams need to contact the Town Clerk, whose records show term expiration dates of June 30, 2022. They are not eligible to vote until they are sworn in with new term dates.
Coordinator’s Position
Gary Sorkin said that he and the Town Administrator will discuss procedures and possibilities for a shared CPC Coordinator to replace Mary Rogers, who has put the Committee on notice that she will be retiring as of June 30, 2023.
Anticipated Applications for Annual Town Meeting
Mary Rogers said that the CDP Lower Cape Housing Institute application for 2023/FY24 has already been submitted. She anticipates an update or resubmission from Pennrose for the Cape Cod 5 Housing plan in Orleans. Gary Sorkin said that once the 95 Lawrence Rd. developer has the permits, they can apply for grant money. Elaine McIlroy discussed the one million dollars for infrastructure now needed for the Paine Hollow housing units. She said that developer Ted Malone may be eligible for One Stop and American Rescue Plan Act (ARPA) grant programs.
Next Meetings
The next virtual meeting was scheduled for Wednesday, September 7, 2022 at 9 a.m. It will be provisional in case the mix of debt service and outright grant money is changed prior to Special Town Meeting.
The next regular meeting was scheduled for Wednesday, October 26, 2022 at 9.m. via Zoom. This meeting will concentrate on the new applications received by the October 17th deadline.
Adjournment
Jan Plaue moved to adjourn. Elaine McIlroy seconded, and the motion carried 7-0.
The meeting was adjourned at 10:19 a.m.
Respectfully submitted,
Mary Rogers,
CPC Coordinator
Public Records materials of 8/24/2022
- 1.Spreadsheet of all CPA distributions and spending/commitments
- Projected bond schedule for 30 years debt service on Maurice’s Campground purchase
- July 20, 2022 CPC motion for Special Town Meeting Warrant Article 7
- Article 7 for Special Town Meeting
The Community Preservation Committee approved these minutes at the meeting held 9/7/2022.