Back to Advisory Committee Minutes
Present: Committee Members Lauter, Seelen, Asher, Cavoores, Dwyer, Ellison, Farrell, Friedman, Innis, Johnson, Manning, Marwill, Mooradian, O’Meara
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1. Call to order
Chair Irma Lauter called the Advisory Committee meeting to order at 7:05 PM.
2. Approval of minutes for September 4, 2008
The Committee reviewed and approved the minutes from the September 4th meeting.
3. Reserve Fund Transfers
a. The Committee voted to approve a $17,258 transfer requested by Katy Lacy, Town Planner, reflecting a reduced need for Planning Board clerical support and an increased need for technical and consultant services. The transfer will have a net-zero impact on the FY09 General Fund due to an offsetting budget surplus in the same amount.
b. Irma updated the Committee on the status of the DPW’s May 30th Request for Transfer of $38,357. At the June 24th meeting, the Committee had voted to authorize the incoming Chair to approve up to $38,357 upon receipt of satisfactory supporting detail. The actual amount needing and receiving approval was $17,181.
c. Other Chair-approved transfers during June and July were:
i. Legal – Expenses: $7,000.
ii. Weights & Measures: $ 173.
d. Per the Committee’s June 24th vote, the residual Reserve Fund amount totaling $175,683 was allocated to the Snow and Ice Removal budget.
4. Lincoln School Apartments
Jim O’Brien and Steve Nolan, representing the Hingham Affordable Housing Trust, fielded questions from the Committee regarding the proposed purchase of the Lincoln School Apartment building.
Topics addressed included:
• Status of the MassHousing appraisal – Not yet received
• Ramifications of the use of Community Preservation Committee funding
• The need for detailed financial models for both Town-bonding and MassHousing funding options
• The need for a concise description of the governance structure across relevant Town, Committee, and single-purpose LLC entities
• The need for clarification regarding the Town’s discretionary use of ground-lease payment revenue from the single-purpose LLC
Comments were then solicited from the public, all of which were supportive of both work done to date and the prospect of Town acquisition of the property.
5. General Business
Irma indicated that the Committee would meet jointly with the Board of Selectmen on September 23rd to review progress regarding the proposed Lincoln School Apartment acquisition.
The Committee will formally vote on the associated Warrant articles at its September 30th meeting.
6. Adjourn
The meeting was adjourned at 9:57 PM.
Respectfully submitted,
Jonathan Asher, Secretary