Draft Minutes: September 29, 2008
Minutes Approved: October _____, 2008
TOWN OF LYME
CAPITAL IMPROVEMENTS PLAN COMMITTEE
MINUTES
DRAFT
Members Present: Dick Jones, Freda Swan, John Stadler, David Roby, Mike Smith, and Judy Brotman.
1. Dick Jones opened the meeting at 7:00 pm.
2. The committee reviewed the first draft of the CIP report.
a. Computer projections were refined based on updated numbers (p.3);
b. Other edits were made to the description of the capital reserve fund for repairs to bridges (p. 6);
c. It was recommended that a $5,000 deposit be made annually to the bridge CRF;
d. It was recommended that a $3,000 deposit be made annually to the Public Works Facility CRF starting in 2012 for a possible new transfer station (p. 6);
e. It was recommended no additional funds be added to the Recreation CRF, but that alternative options be pursued for recreation ball fields (p. 7);
f. The Capital Budget costs will generally be indicated in constant dollars, with the exception of vehicle purchases projects for the upcoming 2008-2009 budget cycle, which will use a 5.5% inflation rate (p. 8);
g. The committee recommends a 0% return on investment for Capital Reserve Funds, given that they are indicated in constant dollars.
3. A revised DRAFT (Draft #2) will be available for the next CIP committee meeting.
4. The Minutes of September 15, 2008 were approved.
The meeting adjourned at 7:43 pm.
Respectfully submitted,
/S/ JLSB
Judith Lee Shelnutt Brotman
NEXT MEETING: MONDAY, October 20th, 7 PM, SELECTMEN’S OFFICE
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