November 10, 2009 Finance Committee Meeting

November 10, 2009 Finance Committee Meeting

Postby Lisa Lannon » Fri May 07, 2010 7:54 am

FINANCE COMMITTEE MEETING
TUESDAY, NOVEMBER 10, 2009


A meeting of the Finance Committee was held on Tuesday, November 10, 2009. Mr. Bari called the meeting to order at 7:05 PM.

ATTENDANCE
PRESENT: Todd Bari, Pamela Holmes, Jerome Kocur, Jeffery LaPorte, Carol Gogolinski, John Bombara, Michael Guzinski (Executive Administrator).
ABSENT: James Roche, Thomas Rochon.

REVIEW OF PROPOSED TAX INCENTIVE FINANCING (TIF) AGREEMENT WITH AMERICAN PRO WIND LLC
Mr. Michael Daley from FAA, Inc. gave a PowerPoint presentation regarding the proposed TIF Agreement with American Pro Wind (APW). Areas reviewed included: introduction to FAA and services provided, requirements of increment financing, status of proposed TIF properties, outline of APW proposed plan, outline of TIF work completed to date and what still needs to be accomplished, estimated tax revenue, and proposed payment schedule. Some areas discussed included tax revenues, land valuation, payment schedule, and items 3 and 4 of the TIF agreement.

REVIEW AND MAKE RECOMMENDATION ON ARTICLE 6 IN THE SPECIAL TOWN MEETING WARRANT FOR NOVEMBER 16, 2009
Ms. Holmes made a motion that the Finance Committee recommends Article 6 to the Special Town Meeting. Mr. LaPorte seconded the motion. Vote unanimous.

SIGN VOUCHER
The voucher for the printing and postage for mailing of the flyer for Special Town Meeting was signed. Ms. Holmes suggested that when the flyer is of such a small size that the cost of printing in house be reviewed. Mr. Guzinski agreed that this could be done in the future. Ms. Holmes also noted that Article 1 indicates that the School Department has utilized State Fiscal Stabilization Grant Funds to address reductions. She questions if this is not Federal rather than State funds. Mr. Guzinski indicates they originate as Federal Funds and get turned over to the State for distribution. Ms. Homes felt that the people of Douglas should be made aware that these are Federal Stimulus Funds.

ADJOURNMENT
Ms. Holmes made a motion to adjourn the meeting at 8:08 PM. Mr. Kocur seconded. Vote unanimous.

Respectfully submitted,

Lisa Lannon
Recording Secretary
Lisa Lannon
 
Posts: 160
Joined: Thu Jan 22, 2009 10:34 am

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