Town of Princeton, Mass., Selectboard Meeting Minutes
– April 10, 2018 – 4 PM– Town Hall Annex
Present: Chair Richard Bisk, Edith Morgan & Jon Fudeman w/ TA Nina Nazarian.
Long-term capital planning discussion – Nina distributed graphs showing financial impact of long-term borrowing and difference between paying with equal principal, which descends over time, or paying with equal payments which remains level over the years. The town’s financial advisor has reported that the town may spend free cash or stabilization monies on capital projects and provided some guidance on bond rating best measures. In summary, the financial advisor notes a best practice of maintaining 10-12% of the towns operating budget in stabilization for higher rated municipalities, however understands the need to balance capital needs. Nina presented a model showing spending of $280,000 from free cash on capital and one-time projects,
which would leave $131,000. In the past, the town dedicated funds to stabilization each year but was not included in the model and is subject to additional discussion. Some funds dedicated to Princeton Center in the budget can now be re-purposed.
Group discussed demolishing the Annex but Karen Cruise advised that it will be needed during any rehab of Bagg Hall, as temporary office space. She noted that the FSC is allowed ten minutes of presentation time at the ATM, for all its articles, not including question/answer period from the voters.
Group discussed financing a new fire truck though borrowing, or by using available funds or through leasing. Bond counsel will be asked about the possibility of crafting an article that incorporates both the option to borrow and lease. Edie suggested that the fire truck be paid for up front or over a short period of time before long term borrowing on facilities, so that the debt does not get layered with the facilities debt proposals. Jon F. voiced an objection to paying for a fire truck up front, funded totally by today’s taxpayers, for a fire truck that will benefit residents 15 or more years from now. He felt it to be more equitable to borrow for a term
lasting the life of the truck.
The three board members favored the equal payments format and borrowing for as long of a term as possible with the facilities proposals, to flatten out the burden to taxpayers. They would present this information at ATM as a plan to borrow for a 30-year term, or the maximum available if longer/shorter, with the option to pay it off sooner. Nina mentioned that the option to pay sooner is typically only after 10 years.
Other Capital Items The Selectboard agreed to support a number of expenditure requests, including $5,000 for network server; $15,000 for repairs to the gazebo; Station 2 ceiling painting for $5,000; a single police cruiser (operating budget rather than capital request) for $48,000, being a lease-to-own, spread over three payments in the operating budget; $42,720 to WRSD to cover new turf and $3,105 for some parking lot paving at WRHS; an OPEB payment of $10,000 instead of $50,000 (last year) and $500 for Wachusett Greenways Rail-Trail. They chose to hold on a decision for Police Dept. roof repair; hold on COA leased space; and hold on amount for stabilization. They chose not to support funding for Sawyer Field nor for a 2nd vehicle
for the Police Dept.
Administrative items 5:45 PM The Selectboard voted all in favor to direct all negotiations concerning leased space at P.O. Place to go through the T.A. or her designees. They then voted all in favor to appoint Jami Deloge as temporary cemetery laborer through the fall of 2018. They agreed to hold off on choosing a “citizen of the year.”
Group considered alternative venues for holding ATM, as T.P. School gym has bad acoustics and limited parking. Nina reported that the High School was not available on May 15th. Consensus was to keep venue in town and T.P. School is still best option. Car-pooling will be encouraged. Nina is planning off-site parking and bus shuttles; she will look into choices/prices. Nina also noted that she would be contacting Matt Russell or John Mollica for any resources they can muster to improve sound system.
Well water at Mechanics Hall The deadline for action on the well-head violation from DEP is July 1st, and Selectboard will meet with Friends of Mechanics Hall at next meeting on April 17. Board agreed that Town Line Garage owner Richard Stuart must find an alternate source of drinking water in order to meet DEP regulations located in the basement of Mechanics Hall. A warrant article, if passed, will allow sale of the building and the board wants some feedback from the Friends on conditions of such a sale.
Make- ready funding Group discussed options around reimbursement from MBI for money spent by the town and PMLD on the broadband make-ready efforts. Charter is waiting to hear from MBI about grant funding as well. Past communications with Peter Larkin have not succeeded in recouping any make-ready expenses to date. Jon suggested the board continue the requests to Larkin for news and updates on the situation. Board agreed that Jon would follow up with MBI.
Abatements Nina reported that about $36,000 has been approved for real estate abatements; that there are about 12 applications pending and that the reserve fund to cover abatements is at around $340,000. These estimates did not include exemptions (i.e. for the blind, seniors, etc.), nor costs for the Senior Tax Work Off program.
Re-appointments 6:20 PM Board agreed that re-appointments and new appointments to all boards and committees which are not elected, shall be conducted with accepted procedures including advertising the position, considering all applicants, etc. and not simply re-appointing all parties wishing to stay on a board/committee.
Group agreed to meet at 11:30 AM on Friday, April 13.
Adjourn 6:30 PM
Respectfully submitted, Marie Auger, Admin. Asst.
BOS Referenced Documents: Graphs showing financial impacts; ATM warrant articles;
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