Meeting Minutes
FALMOUTH EDIC OPEN MEETING: January 18, 2022
Virtual - Zoom Meeting
PRESENT
Christopher Land (C), Thomas Feronti (CK), Kevin Holmes (T), Michael Galasso, Samuel Patterson
8:34 am* CALL TO ORDER
A quorum was established. The Chair called the meeting to order.
8:34 PUBLIC COMMENT
None
8:35 APPROVAL OF BOARD MEETING MINUTES
• MOTION: Patterson made a motion to approve the December 14, 2021 Public Session Board Meeting Minutes. Galasso 2nd the motion. Roll Call: Patterson Aye, Holmes Aye, Feronti Aye, Galasso Aye. Motion approved.
8:37 BOARD MEMBER INTERVIEW – Mark Lowenstein
• Lowenstein recently served on the CDBG grant program sub-committee with the EDIC.
• Lowenstein has owned a home in Falmouth for 30 years and has lived in Falmouth FT for 10 years.
• Experience includes working as a lawyer in High Tech, marketing business development and entrepreneurship. He started several small businesses as well was employed as a professor in VT.
• He did community service in VT by joining the Rutland VT Economic Development Commission.
• For the past 10 years Lowenstein has been involved in Cape Cod SCORE, which is a mentoring organization that helps start and grow small businesses.
• Lowenstein has worked with WHOI with a Shark Tank group and is surprised is there not more spin-offs with tech transfer.
• He applied for the EDIC board position to help with improving and growing economic development in Falmouth.
• Feronti inquired about Lowenstein’s experience with the Rutland EDC. They investigated the idea of creating a high-tech business area. It turned out not to be practical. They developed some real estate properties and on tourist related projects that better matched their community environment.
8:47 FINANCE
Kevin Holmes
• Holmes referred to the financial reports. Bulk of assets remain in the checking account balances $353K as of 12/31/2021. Some adjustments will be made to the final December 2021 financials due to timing issues related to the solar program. Variance in Net Income should end up being -$38K at year end vs. the projected budget of -$70K.
• Adjusted and new Station rents and expense management will improve the financial outlook heading into 2022.
• Galasso inquired about adding the Station ground lease as an asset to the balance sheet. Holmes advised conversations were ongoing. Holmes stated it appears to make sense going forward as utilization of the property increases. The EDIC will discuss further with the EDIC/Town Auditor. Lingafelter advised that EDIC CPA George Malloy is scheduled to attend the Feb. board meeting and he will ensure George is prepared to speak to this subject.
• Galasso mentioned he would like in the future for the EDIC to try to primarily make use of Falmouth vendors for service/products.
• MOTION: Galasso made a motion to approve the warrant in the amount of $13,364.03. Patterson 2nd the motion. Roll Call: Patterson Aye, Feronti Aye, Galasso Aye, Holmes Aye, Land Aye. Motion approved.
8:53 FALMOUTH STATION – VHB PRESENTATION ON MASTER PLAN - Ken Schwartz, Greg Alban,
Michael Paganetti
• Mr. Schwartz began presentation – refer to PowerPoint presentation.
• Lingafelter advised that another public meeting will be held January 26, 2022 to share the presentation with the general public, shareholders and other interested parties.
• Lingafelter noted that this work is conceptual ideas and more detailed research work will need to be done as well as further conversations with MassDOT as owners of the property.
• The Board asked questions and made comments.
• Feronti made note that even with development of buildings & parking, it would not preclude open space and public recreational space.
• Galasso emphasized the State’s goal of adding housing density near transportation centers, noting the available funding for these projects citing the site would be a good for affordable housing.
• Doug Brown, representing the Elks organization commented that the parking lot area currently being used by Elks, with permission by MassDOT, be considered to be retained when planning for any proposed development. This parking area is very much needed by this non-profit organization when hosting events and meetings at their Palmer Avenue building.
• Paul Silvia, resident at Lawrence Gardens, requested a copy of the VHB presentation. Lingafelter offered to review the presentation with him and the condo association if desired.
9:32 EDIC AMINISTRATIVE BUSINESS
Sub-Committee to Review/Update EDIC Bylaws and Enabling Legislation
Broderick advised she has compiled other comparable EDIC organization bylaws for review. Land requested that a meeting be set up with sub-committee for an initial discussion on subject.
New Board Member Recruitment
Lingafelter advised that two of the potential board member candidates have declined the opportunity. There is one additional candidate that is still considering. Adrian Merryman is scheduled for a board member interview at February 8th board meeting.
9:35 COMMITTEE REPORTS
CDBG Community Development Block Grant Update
Lynne Broderick
• Broderick advised the EDIC received additional grant funding of $25k.
• In total the EDIC awarded $173,840. In grant funds.
• There are 13 CDBG applicants awarded, 10 of which received increased awards to utilize all grant funds available.
Falmouth Station Update
Wayne Lingafelter
• Lingafelter reported that the Station Grill lease has agreed upon and executed. The lease extends until December 2023.
• There was an accident at the Station; a car jumped a curb and knocked down the Falmouth sign. There were no personal injuries. The insurance company has been contacted; the sign will be replaced at the earliest opportunity.
• The vendor related work regarding the brick repair/replacement pre-bidding will take place within the next months in anticipation of the CPC funding approval for the project.
• Lingafelter mentioned he has been researching available grant opportunities. His intention is to submit up to 2 expressions of interest to the State for funding resources; the focus will be to advance the master plan study work.
OpenCape Main Street Gigabit Project
Lynne Broderick
• Broderick reported there are currently 47 OpenCape business connections to date.
• All the $50K in loan funds under the MassDev / OpenCape loan agreement has been expended.
• There remains approximately $5,000 in the $10 Connect Fee Funds that will be used for additional connections until these funds are also depleted.
Technology Park Lot 21 Update
Wayne Lingafelter
• Lingafelter reported that work is still be done to position Lot 21 for sale.
• Lingafelter is meeting with the Town Water Dept. at the site to walk the site. He continues to advocate for relief for some of the easement constraints.
• Lingafelter noted he restructured the fee agreement with Holmes & McGrath to better match these expenses with revenue.
9:44 New Business, Agenda Items or Guest Speakers
• George Malloy, EDIC CPA – February board meeting.
• Stephan Madsen, Sustainability Director, WHOI – February board meeting.
• Adrian Merryman – EDIC Board Member Interview – February board meeting.
9:50 ADJOURNMENT
MOTION: Patterson made a motion to adjourn. Feronti 2nd the motion. Roll Call: Patterson Aye, Feronti Aye, Holmes Aye. Motion passed.
NEXT MEETING – February 8th, 2022, 8:30am
*Times listed are intended merely for guidance.
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