Committee Report - Finance - 6-26-12 — File 193467

June 26, 2012 Finance Committee Page 1 of 3 Printed 7/10/2012 REPORT OF THE FINANCE COMMITTEE Attendee Name Title Status Arrived Maryann M. Heuston Chair Present William A. White Jr. Vice Chair Present John M Connolly Alderman At Large Present Robert C. Trane Ward Seven Alderman Absent Thomas F. Taylor Ward Three Alderman Present Tony Lafuente Ward Four Alderman Present Thomas Pasquarello Chief of Police Present Michael Glavin Exec. Director, OSPCD Present Anne Thomas Special Counsel, OSPCD Present Hayes Morrison Director, Transportation and Infrastructure Present Jason Grossfield Asst. City Solicitor Present Doug Willardson Budget Analyst Present Ed Bean Chief Financial Officer Present 193345 - Requesting approval of a revised appropriation of $39,511,429 for the cost of rehabilitation and renovation of the East Somerville Community School.: Mr. Bean discussed the reasons for the cost increase associated with the ESCS project and said that an agreement was reached with the MSBA which calls for a low interest rate of 2%, saving the city $1.4 million. Alderman White's motion that the Administration provide a detailed explanation of how the additional $6.25 million for the ESCS project will be used, was approved. This item was approved with the condition that the requested information (above) be provided. RESULT: APPROVED WITH CONDITIONS 193414 - Requesting the acceptance of 8 temporary and 1 permanent Easements for the new section of the Community Path from Cedar St. To Lowell St.:

Committee Meeting June 26, 2012 Finance Committee Page 2 of 3 Printed 7/10/2012 Ms. Thomas and Ms. Morrison spoke on this matter and explained why the easements are necessary. The committee amended the request to include all temporary easements. RESULT: APPROVED AS AMENDED 193419 - Requesting the appropriation of $70,966 from the Capital Stabilization Fund to match the Federal Transportation Administration grant for a bike share system.: Ms. Morrison spoke about using grant funding for this item and she discussed locations of the bike stations. Chairman Heuston noted that residents of Brickbottom would like a station in their area. RESULT: APPROVED 193422 - Requesting acceptance of a deed conveying fee simple title to the new Assembly Square Drive.: Ms. Thomas discussed the reasons for the conveyance and the stages of the proposed construction. The committee requested a report of all expenditures thus far and also requested that Federal Realty make a presentation to the committee. A revised plan will be submitted. RESULT: APPROVED 193423 - Requesting discontinuance of the abandoned segment of Assembly Square Drive as a public way.: Ms. Thomas spoke about the process of transferring the property in question and also about the allocation of DIF funds and additional money spent by Federal Realty. The city is paying $12 million for the land. Alderman White wants to review previous meeting regarding this issue and the committee discussed the necessity of having a public hearing on the matter. RESULT: KEPT IN COMMITTEE 193424 - Requesting acceptance of a multi-year lease of the East Somerville Police Substation and office space at 79-83 Broadway.: Chief Pasquarello explained the terms of the lease ($1,500 per month for 3 years) and said that the presence of this substation is important to the city. RESULT: APPROVED 193425 - Requesting an appropriation of $30,000 from the Parks Stabilization Fund for the construction of Chuckie Harris Park.:

Committee Meeting June 26, 2012 Finance Committee Page 3 of 3 Printed 7/10/2012 RESULT: APPROVED