MINUTES
BOARD OF FINANCE
May 12, 2014
A SPECIAL MEETING of the Board of Finance was held in the City Hall Auditorium on Monday,
May 12, 2014.
Present were Mayor Elinor Carbone, Corporation Counsel Raymond Rigat, and Board of Finance members Thomas Scoville, Frank Rubino, Mark Bushka, Joshua Ferreira, Bill Lamoin and Laurene Pesce.
Mayor Carbone called the meeting to order at 5:49 p.m.
100 FRANKLIN ST – EPA LOAN
On a motion by Mr. Rubino, seconded by Mr. Lamoin, the Board considered authorizing the Mayor to borrow the sum of $670,000 from the EPA Revolving Loan Fund for purposes of remediation of the 100 Franklin Street property.
Mayor Carbone explained that the loan has no interest due with a ten-year payback period. Payments made on this loan would be held by the City and continually lent out to potential developers of brownfield sites.
Mr. Bushka arrived at 5:53 p.m.
A vote was taken and the loan was unanimously approved.
ADJOURNMENT
On a motion by Mr. Scoville, seconded by Mr. Ferreira, the Board voted unanimously to adjourn at 5:55 p.m.
ATTEST: JOSEPH L. QUARTIERO, CMC
CITY CLERK
Respectfully Submitted,
Carol L. Anderson, CMC
Asst. City Clerk
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