HomeMy WebLinkAboutFin Comm Minutes 11/10/2005Town of Mansfield
Finance Committee
Minutes of Meeting held Thursday, November 10. 2005 ,
Finance Committee Members Present:
James Lazarra (presiding)
Jess Aptowitz
Charlene Lavin
Greg Arnold
These minutes were prepared by Greg Arnold. The meeting was opened at 7:00 p.m.
Matters Discussed and /or Voted On
James Lazarra reported on a meeting last evening concerning the proposal made by Samsonite in
support of the Special Tax Abatement ( "STA "), The Selectmen approved the proposal on a 3 -1-
1 vote. After discussion, the Finance Committee decided that it would take a formal vote on this
proposal prior to the Fall Town Meeting.
Mr. Lazarra then reported on the proposal for a TIF related to Spherics. Unlike the STA, the TIF
does not impact the base tax but affords tax relief on improvements made to the building to be
leased. Again, after discussion the Finance Committee decided that it would take a formal vote
on this proposal prior to the Fall Town Meeting.
A general discussion was then had concerning the amount of Free Cash that would be available
at the Fall Town Meeting. Given the amount expected and the agreement made last Spring that
70% of free Cash would be put back into stabilization, it was anticipated that less than $100,000
would be available to fund any budget requests made at Fall Town Meeting. The Finance
Committee discussed how such an amount might be allocated among any requests from the
Schools and Town.
A short, preliminary discussion was held with respect to the draft Warrant Articles, as well as
year -to -date budget figures and spending.
By a vote of 4 -0, the Minutes of the October 6, 2005 and October 20, 2005 meetings were
approved
The Meeting closed at approximately 8:30 p.m.
074'wv
Gregory (O. Arnold, Secretary