Present: Peter Fimognari, Chris Carlin, Christine Edwards, John Goodrich, Joel Keller, Bob Margerison, Maureen O’Sullivan, Jim Pennington, Pete Ross, Ann Lee (FinCom Admin. Asst.)
Also Present: Gretchen Neggers (Town Administrator), Deb Mahar (Town Accountant), Kathleen Norbut (Selectman), Richard Guertin (Selectman), Ed Harrison (Selectman), Paul Hatch (Planning Committee), Jim Gray (Pioneer Valley Planning Commission)
Absent: Tina Augustin, Paul Desmond
The meeting was convened at 6:30 p.m.
CORRESPONDENCE
none
ealth HH
OLD BUSINESS / NEW BUSINESS
Address by Jim Gray, Pioneer Valley Planning Commission, re: South Main Street School: Mr. Goodrich asked what the normal deferment time is for this type of loan. Mr. Gray explained that if Monson has difficulties, it could be as long as 10 years. He added that PVPC charges the lowest interest possible to municipalities, typically 2%. When the intent is not re-use by the town, PVPC works to fund as much of the clean up costs gratis, e.g. grants. The PVPC would require repayment of the loan upon sale of the property. PVPC’s interest is in the redevelopment of the property. There are tax incentives available on this property, as it is registered on the National Historic Register, and the developer can take a dollar for dollar tax break. Also, the town passes on the 20% loan
discount to the developer.
Mr. Goodrich asked if this is a one time opportunity for Monson to borrow from the Revolving Loan Account. Mr. Gray explained there is an application process and loans are subject to the availability of funds, and Monson could apply for other projects.
Mr. Margerison asked what the property is zoned. Ms. Neggers explained it is zoned commercial.
Address by Paul Hatch, Planning Committee, re: Longview Drive extension: Mr. Margerison expressed concern that other neighborhoods, e.g. Lakeshore Drive, would request to be accepted as a public way. Mr. Hatch explained the developer complied with all regulations, and that is why the request can be met.
STM of November 21, 2005: Mr. Goodrich motioned that, in the event Article 1 fails, the Finance Committee recommend the town pass Article 2 to transfer $225,000 from the Stabilization Fund to pay for emergency repairs. He expressed concern that Monson must have some plan for payment of these bills in place. After discussion, the motion was WITHDRAWN.
The next scheduled meeting of the Finance Committee will be December 5, 2005 at 6:30.
The meeting was adjourned at 6:55 p.m.
Respectfully submitted,
Ann M. Lee, Administrative Assistant to the Finance Committee
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