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Welcome to the Town of Chilmark, MA
Finance Advisory Committee Minutes 11/25/2009
Town of Chilmark Finance Advisory Committee             November 25, 2009       Meeting Minutes

Committee Members Present:      Marshall Carroll, Chair, John Maloney, Richard Williams, Frank Yeomans.

Others Present: Melanie Becker, Rodney Bunker, Tim Carroll, Todd Christy, Brian Cioffi, Keith Emin, Chuck Hodgkinson, J.B. Riggs Parker.

Chairman Marshall Carroll opened the meeting at 12:03 p.m.

Tri-Town ALS State Requirements:
Amount of $70,000.00 to be allocated. Not in FY2010 budget.

Reserve Fund Transfer Request:
Ms. Becker was present to explain the requested Reserve Fund transfer of $912.14 for bank service charges.  Ms. Becker explained that the account was held open through the summer months as the Harbor Dept. was using this account for summer deposits and transactions. MV Savings has a different structure that earns money, as opposed to requiring a fee structure.
There was a motion to approve the Reserve Fund transfer request. The Motion was seconded and approved.  SO VOTED: Four Ayes; Three Not Present.

Article Two:
To see if the Town will vote to appropriate the sum of two million dollars ($2,000,000.00) to be expended by the town, for constructing three rental duplex buildings at Middle Line Road, including the payment of costs incidental and related thereto; and to meet this appropriation by authorizing the Treasurer to borrow, with the permission of the Selectmen, a sum of $1,400,000.00, and appropriate the sum of $600,000.00 from the Community Preservation Funds as follows: budgeted Reserve:$180,000.00, Housing Reserve:$25,000.00, Undesignated Reserve $224,000.00, and FY2010 Estimated Undesignated Reserve $171,000.00, or to take any other action relative thereto.
Mr. Hodgkinson was present to explain the ProForma for MLR and the estimated cost listed, including debt service and maintenance costs associated with the rental duplexes. The town first needs to establish an Affordable Housing Trust Fund to handle the finances associated with this Affordable Housing project.

The interest rate for the bonding was questioned, and it was suggested the Treasurer find out what the current and projected interest rates might be, so the committee will have a base for projection rate to base 15, 20 and 30 year borrowing on. It was expressed that it was not clear what the absolute cost is going to be without accurate interest rates for bonding.  Motion was made to accept Article Two. The motion was accepted and seconded. Vote was called: Two Ayes, Two Abstain, Three Not Present. This is not a clear vote.  It was suggested to find out the information needed to make a clear vote and continue the meeting to Friday, December 4, 2009 at 4:00 p.m.

Article One:
To see if the Town will vote to petition the general court of the Commonwealth of Massachusetts to enact special legislation authorizing the Martha’s Vineyard Regional High School  District Committee to sell, convey, exchange, transfer, lease for an unlimited period of years, or otherwise dispose of the parcel of land and the buildings thereon located at 4 Pine street, Vineyard Haven, Massachusetts, in such manner and under such terms and conditions as the Martha’s Vineyard Regional High School District Committee shall deem appropriate, and to exempt such sale, conveyance, exchange, transfer, lease or other disposal from state public binding statutes, notwithstanding the provisions of any general or special law to the contrary, or to act in any other manner in relation thereto.

The committee discussed this proposal including the building of a new space across from the Tisbury School in Vineyard Haven. It was suggested the committee approve this with the condition that the administrative staff not be expanded beyond current staff.
Motion was made to approve this article. The Motion was seconded and unanimously approved.  SO VOTED: Four Ayes; Three Not Present.

Article Three:
To see if the Town will vote to appropriate from available funds in the treasury, the sum of $143.79 to pay MHQ, Inc. for a vehicle repair bill from the prior fiscal year.
Motion to accept was made. The Motion was seconded and approved.  SO VOTED: Four Ayes; Three Not Present.

Article Four:
To see if the Town will vote to appropriate from available funds in the treasury the sum of $3,500.00 to fund repairs to the Menemsha School and shed, or to take any action relative thereto.
Motion was made to approve. Motion was seconded and approved.  SO VOTED: Four Ayes; Three Not Present.

Article Five:
To see if the Town will vote to appropriate from available funds in the treasury the sum of $8,400.00 to fund repairs to the Community Center, or to take any action relative thereto.
Motion made to approve. The Motion was seconded and approved.  SO VOTED: Four Ayes; Three Not Present.

Article Six:
To see if the Town will vote to appropriate from available funds in the treasury the sum of $22,000.00 to resurface and repair the parking lot at the Community Center, or to take action relative thereto.  Motion was made to approve.   The Motion was seconded. SO VOTED: Three Ayes, One Nay, Three Not Present.

Article Seven:
To see if the Town will vote to appropriate from available funds in the treasury the sum of $18,000.00 to fund the removal of dead standing trees along town roads, or to take any actions relative thereto.  The discussion included a description of the work. Five days at $2525.00 a day. The committee would like to be clear about the number of trees actually being removed. They will be marked with a white X. The committee asked exactly which town roads, would this include Tea Lane, Meeting House Road?

Article Eight:
To see if the Town will vote to designate the Dukes County Regional Housing Authority as our agent to create, administer and enforce the Martha’s Vineyard housing needs covenants. These covenants shall run with the land for a specified number of years or if no termination date is specified, then in perpetuity, and shall be executed by or on behalf of the owner of the land appropriate to: (a) limiting the use of all or part of the land to occupancy by persons or families of middle income in either rental or other housing, (b) restricting the resale price of all or part of the property in order to ensure its affordability by the future middle income purchasers, or (c) in any way limiting or restricting the use or retention of the rental and other housing occupancy by middle income persons or families. For the purpose of this bylaw, “middle income persons and households” shall mean persons or households earning less than 150% of Dukes County median household income as reported from time to time by the United States Department of Housing and Urban Development.  Motion to approve. The Motion was seconded and approved. SO VOTED: Four Ayes; Three Not Present.

Article Nine:
To see if the Town will vote to accept the provisions of Chapter 166, section 32A.  There was no action taken.  

The committee agreed to continue the meeting to Friday, December 4, 2009 at 5:00 p.m. to revisit Article Two concerning the Middle Line Road Community Housing Program bonding interest rates.

With no more business to discuss, Mr. Carroll closed the meeting at 2:10 p.m.
These draft minutes are respectfully presented by Todd Christy, Administrative Assistant.

Approved February 3, 2010.



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Chilmark Town Offices: Chilmark Town Offices: 401 Middle Road, P.O. Box 119 02535-0119
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