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BOARD OF FINANCE
SPECIAL MEETING MINUTES
APRIL 23, 2002 8:00 A.M.
I. CALL TO ORDER
The Special Meeting of the Board of Finance and Town Council was called to order at 8:00 A.M. by the respective Chairmen. Tom Harrison, Chairman of the Board of Finance, noted that Members Bill Hooper, Steve McGuff, Michael Monts and Mark Zacchio constituted a quorum to conduct business. Members Tom Gugliotti and Jim Speich were absent.
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II. Review, Discussion and Recommendation: Request for Bond
Authorization $2,235,000; Fisher Old Farms Open Space
Property Acquisition.
The Town Council discussed the proposed Agreement and Lease Agreement with
Town Council Dwight Johnson and Financial Advisor Dennis Dix and Town Planner Steve Kushner who attended the meeting. Several questions were discussed regarding terms of the sale/purchase agreement and the lease agreement which have been executed by both the Town of Avon and Fisher Family Properties.
At the conclusion of the Town Council meeting, Mr. Harrison reported that when he was first elected to the Board of Finance in 1995, he raised the question of whether there would be a conflict of interest as at that time Day, Berry & Howard (of which Mr. Harrison was a partner) was the Town's Bond Counsel and he wanted to make sure there would be no issue of conflict of interest if various bond issues came before this Board. He reported there was an exchange of correspondence which is recorded in the minutes of the July, 1995 Board of Finance meeting, which constituted full public disclosure. The resolution of the question was that he would not have a conflict because it's the Voters, rather than the Board of Finance that approves bonding. Secondly, it's the Town Council, not the Board of Finance
that's responsible for the bonding. Mr. Harrison does not see a conflict, as he is in favor of this action. Atty. Dwight Johnson responded that he did not anticipate a charge of conflict of interest, but to avoid any questions he would recommend that Mr. Harrison recuse himself from action on this issue. Mr. Harrison duly turned the meeting over to Mr. Hooper to call the motion.
On a motion made by Mr. Monts, seconded by Mr. McGuff, it was voted:
RESOLVED: That the Board of Finance recommends that the Town of Avon appropriate $2,235,000 for the acquisition of approximately 318 acres of open space and famland currently owned by the Fisher Family Properties Limited Partnership, located in the Town of Avon to the south of Old Farms Road and to the west of the Farmington River, bounded southerly by the Avon-Farmington town line, and straddling Tillotson Road. Pursuant to agreements between the Town and the seller of the property and between the Town and the State of Connecticut, the property is to be used, generally, for open space, conservation and passive recreation, with the construction of athletic fields and parking lots, and structures, utilities and facilities related thereto, to be permitted on an approximately 20 acre portion of the property (the
exact boundaries of which are yet to be determined) located immediately south of Old Farms Road and east of Tillotson Road, and with the anticipation that farming operations will continue to be conducted upon the portions of the property by one or more private entities. Under certain circumstances the Town may construct barns, equipment sheds and accessory structures to facilitate farming operations on the property. The property will be conveyed to the Town subject to a certain lease of the entire property from the seller to Fisher Old Farms Associates Limited Partnership, which lease terminates no later than December 31, 2003. The Town anticipates receiving grants in the approximate amount of $938,000 from the State of Connecticut Department of Environmental Protection to defray in part the appropriation for the project.
RESOLVED: that the Board of Finance recommends that the Town of Avon issue bonds or notes and temporary notes in an amount not to exceed $2,235,000 to finance the appropriation, the amount of bonds or notes authorized to be issued to be reduced by the amount of grants received by the Town for the project.
Messrs. Hooper, McGuff, Monts and Zacchio voted in favor. Mr. Harrison abstained for reasons stated above.
III. OTHER BUSINESS
IV. ADJOURNMENT
On a motion made by Mr. Monts, seconded by Mr. McGuff, it was voted:
RESOVLED: That the Board of Finance adjourn at 8:40 A.M.
Messrs. Harrison, Hooper, McGuff, Monts and Zacchio voted in favor.
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