Minutes of the Board of Finance meeting held on Tuesday, October 16, 2018 at 7:30 p.m. at the Old Lyme Memorial Town Hall.
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Present:~~~~~~~~~~Regular Members:~ Andrew Russell, BJ Bernblum, H. P. Garvin, III, David Kelsey,
Janet Sturges, David Woolley
Alternate Members: Judith Read, Anna Reiter
Bonnie A. Reemsnyder, ex-officio
Nicole Stajduhar, Finance Director
Mary Jo Nosal, Selectwoman
Timothy C. Griswold, Treasurer
Absent:~~~~~~~~~~~ Regular Members:~
~Alternate Members:~ Adam S. Burrows
Guest: Heather Gagnon, Chairperson, Economic Development Commission (EDC)
Courtney Hendricson, Vice President of Municipal Services,
Connecticut Economic Resource Center, Inc. (CERC)
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Mr. Russell called the meeting to order at 7:30 p.m. Mr. Russell noted that Mr. Bernblum isn’t present, therefore, a motion was made by Mrs. Sturges, seconded by Mr. Kelsey, to have Mrs. Reiter vote for Mr. Bernblum until he arrives. Motion carried.
Mr. Russell requested a motion, moving the Economic Development Commission (EDC) – Connecticut Economic Resource Center (CERC) proposal funding request under New Business, up on the agenda. Therefore, a motion was made by Mrs. Sturges, seconded by Mr. Garvin, to move the EDC – CERC proposal funding request up on the agenda. Motion carried.
Mr. Bernblum arrived at 7:35pm
New Business
EDC – CERC proposal funding request: Ms. Gagnon explained that the EDC is seeking a consultant to assist with a variety of economic development projects. She explained that the Commission developed a mission statement and a list of various goals that the EDC is working towards accomplishing. The Mission Statement which reads, “The Economic Development Commission supports economic growth and revitalization of existing businesses while attracting new commerce and cultural opportunities complementing the true spirit and character of the community, resulting in long-term employment and diversified economic base further benefiting quality of life for all who live and visit Old Lyme” encompasses the Commission’s purpose. The EDC is a resource for current businesses – a source of
information and liaison to existing and potential businesses. The Commission is working to develop opportunities within the town to grow business, support business owners and seek insight into how to best serve the community while attracting new businesses as well. Ms. Gagnon stated that the Commission knows in what direction they want to focus on but lacks two vital resources to achieve their mission – Time and Money. The EDC’s annual budget of $20 hasn’t changed in 8 years.
Board of Finance Meeting October 16, 2018
Ms. Gagnon introduced Courtney Hendricson, Vice President of Municipal Services at CERC, and stated that she invited Ms. Hendricson to meet with the EDC to hear their concerns and was able to create a proposal for the Town.
Ms. Hendricson summarized that the Connecticut Economic Resource Center, Inc. (CERC) is a nonprofit corporation and public-private partnership that drives economic development in Connecticut by providing research-based data, planning and implementation strategies to foster business formation, recruitment and growth. CERC is a pioneer in the development of programs, technologies and capabilities to support effective economic development and offers a complete range of services from economic impact analysis, strategic planning, data gathering and communications, to outreach, site selection and business assistance. CERC provided a proposal for economic development services that will support the business community and help grow the commercial grand list. Ms. Hendricson highlighted the proposed budget and
timeline which included the following: Fundamental Training – Free of Charge ($2,500 value), SWOT Focus Group – Conducted as part of on-site support ($2,500 value), Survey Existing Businesses - $4,500, Feasibility Study - $27,500, Marketing Strategy – Conducted as part of on-site support ($5,000 value), Website Audit and Create Economic Development Site - $15,000, On-site ED Support (fee is based on recommended 4 hours/week at blended rate of $80/hour) - $16,640. Ms. Hendricson explained that CERC can complete the fundamentals training, the survey, the feasibility study, and website creation in approximately 4 months – based on timely approvals from the Town.
Mr. Kelsey and Mr. Russell both inquired if the EDC had a specific list of projects and timelines for the items they are planning. There was a discussion on permits from the town that would be needed to move forward with this proposal and which components of the proposal the town would benefit from.
Minutes of September 18, 2018 Regular Meeting
The minutes of September 18th Regular meeting were reviewed. It should be noted that Mr. Woolley is a Regular Member who was absent at the September meeting, not an Alternate.
There being no other corrections noted, a motion was made by Mr. Kelsey, seconded by Mrs. Sturges, to approve the minutes, as modified. Mr. Bernblum and Mr. Woolley abstained as they were not present. Motion carried.
Financial Reports
Mrs. Stajduhar highlighted the September 2018 Financial Reports.
Under Revenues, total monthly revenue of $847,350 represents September tax collections of $206,860, plus prepaid taxes at June 30, 2018 of $663,700 less $23,224, or 55% collected. Rogers Lake – Lyme reimbursement - $20,735 (July-August 2018). Other funds – Hains Park Improvement Project received a $5,600 contribution for the donor board.
Board of Finance Meeting October 16, 2018
The percentage of general government revenue budget received to date is 53.6%.
Mrs. Stajduhar stated that Expenditures for August included: Treasurer – Contracted Services paid $22,000 for auditing services. Assessor’s - Legal Services in the amount of $2,046 relates to Veterans Exemption. Under Land Use – Engineer - Zoning for $5,236 relates to Hope Housing project for traffic studies. Public Works – Engineering in the amount of $5,242 is related to the Grassy Hill Road Bridge. Public Works – Vehicle Maintenance/Parts in the amount of $15,900 represents several vehicles. Parks and Recreation – Facilities Supplies of $4,377 is for beach sand at Rogers Lake. The Police – Part-time wages is over budget by $2,300 due to coverage for full-time vacation/short-term disability/summer.
The percentage of general government budget spent year-to-date, without capital or RSD#18 included, is 24.5%.
Other expenditures included the Historic District Grant in the amount of $4,900 for consultants.
Old Business
Resolution: Loan for Library project: Mrs. Reemsnyder distributed the Memorandum of Understanding (MOU) with a proposed schedule of disbursements for the $1.75 million grant appropriated to the Library Renewal project by the Town. The Resolution authorizes the issuance of bonds and notes in an amount not to exceed $1,250,000 to finance an appropriation for the renovation of the PGN Library. There was a discussion regarding the last two points on the resolution presented (#7 & 8). It was felt that they should
only apply if the library renovation was a town project; therefore, should be removed from the resolution.
Mrs. Reemsnyder explained that during construction, as invoices are received by the Building Committee for work performed, the committee will review and approve proper expenditures in support of monthly funding requests to the town. Each request will be accompanied by photocopies of the third party invoices to be paid. An itemized invoice will be presented to the town and the town will cut a single check to the library and the library will pay out to the vendors. It states that the cumulative total of all requests shall not exceed the $1.75 million amount granted, and the remaining expenses will be funded by the State’s grant, which is not payable to the library until construction is more than 50% complete, and the library’s own fundraising efforts. Possible Addition Language included the
following: “The parties agree that prior to any disbursement by the Town to Library of the Town’s $1.75 million in matching financial support, the Library shall first be required to expend funds received from the Library’s own capital campaign efforts.”
There was discussion on the town’s liability regarding the project. The MOU states that the town shall not be deemed a debtor, borrower, guarantor and/or otherwise liable for any monetary or non-monetary obligation or debt related to the Library Renewal Project, other than its commitment to provide the matching financial support to the library contemplated in and subject to all terms and conditions of this MOU. Mrs. Reemsnyder will discuss with town attorney and CIRMA regarding liability insurance.
The Building Committee was hoping to start the project soon, however, the Resolution has to still go to a Town Meeting.
Board of Finance Meeting October 16, 2018
New Business
Local Bridge Grants: Mrs. Reemsnyder reported that the town qualified for (Grant) funding under the Local Bridge Program and received $427,400 for the bridge on Mile Creek Road over the Blackhall River and $345,838.10 for the bridge on Grassy Hill Road over an unnamed brook. A recent traffic study recorded approximately 1,500 cars daily that travel over the bridge on Grassy Hill Road and 1,800 cars daily that travel over the bridge on Mile Creek Road. Mrs. Reemsnyder explained the timeline for each project and related preliminary cost figures. The bridge on Mile Creek Road is slated for next summer and the bridge on Grassy Hill Road, the following year. The next step in the grant process, if this Commitment to Fund from the State is acceptable, is to sign and return the
commitment letter within 30 days. If the project needs to file for an extension, as the bridge on Grassy Hill Road isn’t slated for work within the next year, an extension will be granted.
Other Business
Nothing to report.
Selectman’s Report
Pump Station Lease: Mrs. Reemsnyder stated that Pump Station lease was approved at the Town Meeting held on September 24. The lease is for a portion of the Town-owned property at 72 Portland Avenue. The lease is an initial forty-year term for the purpose of the construction, operation, and maintenance of a sanitary sewage pump station, underground piping, and related facilities by three beach communities and their respective Water Pollution Control Authorities.
Solar Power Landfill Lease: The Solar on Landfill lease was approved at the Town Meeting held on September 24th. There were several questions regarding the proposal to authorize the Board of Selectmen to negotiate and execute an MOA and subsequent lease of a capped portion of the landfill for installation and operation of solar power generating facilities. There have been numerous requests from vendors who would like to work with the town as well. The Board of Selectmen has agreed that this item should go out to an RFP to solicit for a better return and options.
Solid Waste/Recycling Contract: Mrs. Reemsnyder stated that the committee received and is currently reviewing four proposals, which range in cost from $520,000 for the first year to $824,000, or $2,175,486 to $3,473,113 for a four year contract. The Solid Waste/Recycling Review Committee is reviewing the four bids and is hoping to award a contract by the end of November.
Historic Survey Committee: Mrs. Reemsnyder stated that Heritage Consultants has started the Historic Survey of areas of the town, focusing on characteristics and history of historic properties. Mrs. Reemsnyder hopes to identify approximately 175-200 properties in town.
Board of Finance Meeting October 16, 2018
Mr. Russell stated that the next Board of Finance meeting is scheduled for Tuesday, November 20, 2018 at 7:30 p.m. in the Town Hall Meeting Hall.
A motion was then made by Mr. Kelsey, seconded by Mrs. Sturges, to adjourn the meeting at 9:30 p.m. Motion carried.
Respectfully Submitted,
Michele E. Hayes
Secretary
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