Meeting Minutes
FALMOUTH EDIC OPEN MEETING: December 10, 2019
Falmouth Town Hall
Selectmens Meeting Room, 59 Town Hall Sq. Falmouth, MA 02540
PRESENT
Christopher Simmler (Ck), Paul Burke (T), Michael Galasso, Patti Haney, Thomas Feronti
ABSENT
Christopher Land (C), Susan Moran (VC),
8:33 am
CALL TO ORDER
Having established a quorum, the Clerk called the meeting to order.
8:34 am PUBLIC COMMENT
Matt Patrick: Requested to put PACE (Property Assess Clean Energy) on agenda for future discussion. Lowest possible financing that organizations can receive (for over 20 years) to finance energy efficiency projects.
8:35 am NEW BOARD MEMBER WELCOME
Chris Simmler welcomed Thomas Feronti to his first board meeting.
8:36 am COMMITTEE REPORTS
TECH PARK
Patti Haney, Paul Burke, Mike DiGiano
DiGiano advised that the EDIC will be resubmitting the zoning petition on 64 Technology Park Drive for the spring Town Meeting. The next step is to work the Town Planning Board and the Abutters to craft a petition that will receive a positive recommendation.
The business interested in leasing this property is still interested in it.
FALMOUTH STATION
Chris Simmler, Lynne Broderick
Broderick advised that the Christmas Stroll event at the Station went very well, with several of the Board Members in attendance. The high school acapella group sang at the event; they were excellent.
The Station experienced some graffiti inside the open foyer. Broderick called the Police to request more frequent patrols during the evening. Should this continue to occur, further actions will need to be taken to maintain the facility.
Barbara Weyand sent an update for the Railroad History Board: artwork is almost completed, and she is hopeful for a late spring/ early summer installation.
DiGiano advised that the $2 fee that was inquired about at the last board meeting: it is not a “station” fee but a “reservation” fee for processing ticket sales online. However, Peter Pan advised that some other Station require a Station Fee be added to the ticket sale, revenue returned to the facility to assist with the maintenance and upkeep.
LANDFILL SOLAR DEVELOPMENT: PHASE 2
Mike DiGiano
DiGiano advised the EDIC will put forth a new RFP for the Phase 2 Solar Landfill. He is working on a new LOI and a new agreement with Citizens Energy. To be discussed further in Executive Session.
FINANCE
Paul Burke
George Malloy reported on the 2018 Audit done by Rosselli & Clark. He advised very few changes were done to the General Ledger – only 3. George advised it was a clean audit. He advised that the 3-year contract for auditing services with Rosselli & Clark is now expired.
The EDIC needs to consider if they want to issue an RFP to the general public, or if they want to continue with Rosselli & Clark for either a 1–3 contract. Rosselli & Clark are the auditors for the Town of Falmouth, so the synergy is beneficial to the accounting knowledge base of both organizations.
The Board requested that Mr. Malloy converse with Rosselli & Clark to obtain a proposal. The Board will decide once they have reviewed their proposal and received Mr. Malloy’s recommendation.
Galasso inquired with George Malloy about why the EDIC properties are shown as valued at cost vs. market value and why the Falmouth Station property is not listed as an asset. George advised that these figures were defined by the auditors Rosselli & Clark; citing that the AICPA (American Institute of CPA’s) does now allow for fair market value financial statements. As the Station land is owned by the State, therefore it is not shown on the EDIC financial statements.
Malloy said that internal financial statements may show fair market value rates for properties, however, for public accounting and auditing, AICPA rules do not allow for it.
MOTION: Burke made a motion to approve the December 10th, 2019 warrant in the amount of $19,392.91. Simmler 2nd. All in favor. Approved.
Simmler advised that a subcommittee met to review historical financial data and the 2020 forecast.
DiGiano presented the data shown on the Financial Presentation. Revenue is primarily from Solar Phase 1 ground lease payments from Citizens Energy, and the leases at the Falmouth Station. Total about $107K a year.
Due to added planned expenses in 2020; the 2 studies, and the new ED position, increasing operational expense at the Falmouth Station and the rebid for Solar Landfill Phase 2, the total is forecasted to be $300K in expense for 2020.
When taking out the 1-time cost for the studies and rebid of Solar 2, the EDIC will experience an approximate deficit of $100K per year.
DiGiano reviewed plans for opportunities for revenue generation in 2020 and going forward.
It was recommended that the EDIC be very careful with future spending and taking on any new projects without obtaining partners for funding sources.
Galasso commented that if the Fiber Optic project goes forward the RFP needs to state a component that will allow recuperations of the $50K for the study on same as well as a project management fee. Secondly, the Falmouth Station is another source of revenue: a parking fee project, as well as development of the undeveloped lot of land.
The Board discussed the E for All Pitch Contest and based on the current EDIC financial situation decided to hold off on the expenditure of the $5K requested to host this event.
OPEN CAPE / MAIN STREET HIGH SPEED INTERNET PROJECT
Mike DiGiano
DiGiano advised he is waiting for a current update on this project from Open Cape. Open Cape has been working with the 40+ businesses who signed contracts, doing preinstallation connection visits.
Open Cape has submitted to the EDIC for approval, a loan draw of $118K with Mass Development: $50K for the connect fund, $68K for the subcontractor for the infrastructure work done.
Galasso inquired if the EDIC needed to obtain liability insurance from the contractors. DiGiano to investigate the insurance questions and advise.
MIXED USE / CO-WORKING SPACE STUDY UPDATE
Mike DiGiano
DiGiano advised the committee was working with Workbar to identify strategic partner organizations; to assist with setting up some community meetings.
Simmler inquired about payment to Workbar: DiGiano advised invoicing is to be done by time and materials, with a budget not to exceed component.
COMMUNITY BASED FIBER OPTIC STUDY UPDATE
Mike DiGiano
DiGiano advised the study kickoff meeting is on December 12th, 2019. The agenda was shared.
The sub-committee has been working with CCG on the telephone questionnaire; which is the only method to be used for survey communication for residents, however, an online survey will be included for the business surveyed.
A request was sent to the Town Manager’s office for a list of telephone numbers of Falmouth’s residents: full time vs. seasonal residents.
The survey is expected to take place after Jan.1st and should be completed within a few weeks.
9:37 am EDIC ADMINISTRATIVE BUSINESS
MOTION: Galasso made a motion to approve the November 12th, 2019 Board Meeting Minutes. A quorum was not met, so the vote is postponed until the January 2020 Board Meeting.
9:39 am FUTURE AGENDA ITEMS / GUEST SPEAKERS
Matt Patrick - PACE Program
Steve Johnson - Open Cape
9:41 am
ADJOURNMENT AND MOVE INTO EXECUTIVE SESSION
MOTION: Simmler made a motion to adjourn the meeting and move into Executive Session to discuss lease negotiations for the Solar Landfill 2 and land sales for Raymond Park Prosperities. Haney 2nd. All in favor. Approved.
NEXT MEETING
December 12, 2019, 8:30 am, Falmouth Public Library. 300 Main St., Falmouth, MA
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