Committee Report - Finance - 7-6-15 — File 201804

Finance Committee Page 1 of 3 Printed 7/12/2016 July 6, 2016 REPORT OF THE FINANCE COMMITTEE Attendee Name Title Status Arrived Tony Lafuente Chair Present Maryann M. Heuston Vice Chair Absent Katjana Ballantyne Ward Seven Alderman Present Matthew McLaughlin Ward One Alderman Present William A. White Jr. Alderman At Large Present Robert J. McWatters Ward Three Alderman Present Mark Niedergang Ward Five Alderman Present Lance L. Davis Ward Six Alderman Present John M. Connolly Alderman At Large Absent Dennis M. Sullivan Alderman At Large Present Mary Jo Rossetti Alderman at Large Present Others present: Joe Curtatone - Mayor, Michael Glavin - OSPCD, Rob King - Capital Projects, Ed Bean - Finance, Peter Forcellese, Jr. - Treasurer, David Shapiro - Law, Jackie Rossetti - Communications, Mary Skipper - Supt. of Schools, John Oteri - SHS Headmaster, Brandon Wilson - Historic Preservation, Marc Levy - Assessing, Tony Pierantozzi - consultant, Skye Stewart - Mayor’s Office, Tim Snyder - Mayor’s Office, Charles Sillari - Clerk of Committees. Approval of the June 7, 2016 Minutes RESULT: ACCEPTED Approval of the June 8, 2016 Minutes RESULT: ACCEPTED Approval of the June 13, 2016 Minutes RESULT: ACCEPTED Approval of the June 14, 2016 Minutes

Finance Committee Page 2 of 3 Printed 7/12/2016 RESULT: ACCEPTED Approval of the June 15, 2016 Minutes RESULT: ACCEPTED Approval of the June 16, 2016 Minutes RESULT: ACCEPTED Approval of the June 20, 2016 Minutes RESULT: ACCEPTED Approval of the June 21, 2016 Minutes RESULT: ACCEPTED 201530: Requesting the acceptance and appropriation of an additional $40,000 from US2 Associates into the Union Square Stabilization and Revitalization Fund. RESULT: APPROVED 201531: Requesting an appropriation of $40,000 from the Union Square Stabilization and Revitalization Fund for services in connection with the redevelopment of Union Square. RESULT: APPROVED 201722: Requesting that this Board vote to place a question on the November 8, 2016 ballot to seek voter approval to exclude the debt from the Somerville High School project from the provisions of Proposition 2 1/2. Mayor Curtatone stated that Somerville has the oldest un-renovated high school in New England and that a new high school is needed, adding that the city is in jeopardy of losing accreditation due to the condition of the current high school. Currently, there are 1,250 students at the high school and that number is projected to increase to 1,590 in 2023. The city has been working closely with the MSBA, the Historical Commission and has listened to the concerns of the city’s youth. The required investment is significant, and the mayor wants the community to decide whether, or not, it wants to invest in a new high school. Mr. Pierantozzi explained that two historic parts of the present high school will be maintained. Ms. Skipper stated that the present building doesn’t fit the programs in the curriculum and

Finance Committee Page 3 of 3 Printed 7/12/2016 doesn’t provide the students to access to what they need. Mr. Oteri spoke about how the present building prevents 21st century learning and said that security is a problem, due to the 44 exterior doors. Chairman Lafuente expressed his pleasure with the way the conversation on this matter was begun, adding that the team working on this proposal is incredible. The new facility will be the most expensive school in state history. There was a discussion about the site, design and structure of the new school, as well as the various floor plans and the possibility of adding an additional floor to the building. Removal of the present west wing will provide City Hall with some breathing room. As of now, there are $42 million in contingencies. Alderman Niedergang expressed concern about spending $18 million for a parking lot and suggested a private/public parking lot. Mayor Curtatone informed members that there will be a charge for parking. Mayor Curtatone stated that the city would only borrow what is needed and he discussed ways to secure funds through permit revenue and selling assets. There are six buildings under consideration for sale to reduce the city’s debt. The city’s cost cap won’t be determined until November. Alderman Niedergang requested information on the city’s debt for each year that the funds will be repaid as well as the total debt service associated with the project. Alderman White discussed property tax increases. Alderman Rossetti said that the sustainable design committee would continue to meet over the summer and she asked that the Law Department draft a memo to guide the BOA in dealing with the voters on this matter. Mr. Shapiro will draft the memo and informed the members that aldermen may act in their personal capacity on the ballot committee, however, a majority of the BOA cannot be on the ballot committee without a Home Rule Petition. RESULT: APPROVED Committee Meeting Handouts: 1. SHS Bonding Scenario (with 201722)