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Community Preservation Committee
FINAL Minutes, October 11, 2007 Community Preservation Committee Meeting
color="#000000" style="font-family:Times New Roman;font-size:8pt;color:#000000;">(Chairman), Dave Walrath (Vice Chairman), Kathy Sferra, Kate Hogan, and Mike Busch Administrative Assistant: Deb Seith
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scuss Elm Ridge and the Villages at Stow.
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" style="text-align:left;">olor:#000000;">Other Funding
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Public sponsorships and donations
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Times New Roman" size="+0" color="#000000" style="font-family:Times New Roman;font-size:8pt;color:#000000;">rant and the Town votes to acquire the Snow property, the Town will create an Agricultural Preservation Fund (APF) and contribute $70,000 to the fund. The Agricultural Commission, Recreation Commission and State are all pleased with the proposed mitigation. The Committee briefly discussed where the $70,000 could come from, some suggestions were the Conservation Commission (SCC) and the Stow Conservation Trust (SCT).
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Calculate the cost to the average tax payer. (Jim and Eric)
Approach SCC & SCT for funding for the APF. (Jim and Eric)
the owner and didn’t believe there were any new appraisal figures.
·$1,455,121
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Spring Hill (if rescinded)
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$79,100
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$955,900
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Stow Community Preservation Committee
#160; Agricultural Preservation and Expansion
Agriculture Commission
Dwight Sipler
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Total Cost
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CPC Funds Requested
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Sources of Other
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2008
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$1.3M (estimated)
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7/13 of land acquisition cost , $700K land + $50K costs/fees
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6/13 of land cost from Town, raise or appropriate, $600K + $50K costs/fees
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2008 – 2009
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$1M
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$1M for design and development plus fees
(possible grant funds could reduce this to net cost of $500K)
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Up to $500K in EOEEA Urban Development Grant. Funds would reimburse CPA funds expended. Additional funds from private fund raising will go toward additional project improvements
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