Free-Form Document

Attachments
Attach...
Details
Link Name:	Minutes	Description:	
Subject/Title:	July 19, 2004	Subtitle:	
Keywords:		Review on:	
[ ] Default to Printable Version

FINANCE COMMITTEE – TOWN OF STOCKBRIDGE


MONDAY, July 19, 2004

DRAFT AGENDA

Minutes of previous meeting  -  June 14, 2004 - approved

Finance Committee Composition was reviewed for the benefit of new members – alternate memebers are requested to attend all meetings and may vote on any occasion when a regular member is not in attendance. 

Presentation by Sewer and Water Commission – Sewer Expansion Project _ Messrs. Schreyer and Kellogg described work to date and financing of the project. Although begun later than had been provided for, the project is on schedule and proceeding well according to plan. The full contract amount is $6.7myn, $2.5myn less than provided for in the state loan. Present indication is that the entire project will be completed on schedule and at the above indicated cost. The state loan at 2% interest has been adjusted to 20 year term from 25 years. The annual debt service payment will be $404,000. The Commission has raised rates twice (by 20% and 25%) to pay the Town’s share of debt service and will begin collecting connection fees this year. 
 Finance Committee requested that we be apprised promptly of any proposed change orders involving money differences.

Old Business - none

New Business – Chris Irsfeld described negotiations with the Grove School of Madison CT, prospective buyer of the DiSisto School property. Plans include deeding 120 acres of hillside property to the Land Conservancy.

Meeting Dates – Next meeting scheduled for Monday, October 18 at 7:00PM at Town Hall