STOUGHTON REDEVELOPMENT AUTHORITY – MEETING MINUTES FEBRUARY 6, 2013
Motion was made by Mr. Gitto and seconded by Mr. Lindwall to open the meeting at 7:05 p.m. It was unanimously approved.
Present: Chairman Carlos Vargas, Louis Gitto, Roberto Soto and Forrest Lindwall. Also present was Guest Speaker Joseph Feaster.
Guest Speaker – Joseph Feaster
Mr. Feaster went over his Proposal and Draft Fee Agreement for his assistance with the acquisition of the Train Station. Mr. Feaster talked about the anticipated costs and how overall the number is the outside figure unless something extraordinary comes up. Mr. Feaster mentioned the Recording Fee for the Deed is $125.00. He gave a guesstimate for about 20 hours at $225 an hr. in order to get answers on what was voted on and authorized in the Transportation Bond Bill. Mr. Feaster said the figure of $9,025 might be on the high end. He also gave a proposal based upon what had been discussed as far as what the Redevelopment Authority was looking to do based on some of the discussions he had as Interim Town Manager.
The Draft Agreement for Train Station
Mr. Lindwall said as far as the Sub-Division Plan and $2,000 charge we have an Existing Conditions Plan and what we are calling a Presentation Plan, which is the plan we will submit to the MBTA to show the two separate parcels. Mr. Lindwall said the MBTA would then come back to us with a deed at that point we anticipate will be one deed with two parcels. Mr. Lindwall said based on that deed our surveyor would prepare the Sub-Division Plan, so there isn’t any input necessary from Mr. Feaster on that but there is for the Review of the Deed. Mr. Lindwall said make it more about the Review of the Deed and the $2,000 charge can go away and also said to add a few hours in to Review the Deed and negotiate the deed language. Mr. Feaster agreed.
Mr. Feaster said then we might end up looking at a cost of around $7500. Mr. Lindwall agreed. Mr. Feaster said once we make our determination he can be off and running.
Mr. Gitto asked who is going to negotiate the contract with the TRA. Mr.Gitto said he thought there was going to be someone from the Town, SRA and Legal Counsel in the negotiations. Mr. Gitto asked this because he didn’t see anything in Mr. Feaster’s Draft Agreement regarding that.
Mr. Lindwall responded it was his understanding that they were going to have Chairman Stagnone, himself and SRA Counsel and sit with Fran DeCoste of TRA when it comes time to do a conveyance. Mr. Gitto responded a conveyance is after you have decided what it is you are going to pay.
Mr. Vargas asked that isn’t it the case that the price is $350K a take it leave it kind of thing. Mr. Gitto said we have an appraisal of $320K that we haven’t discussed yet and he spoke with the appraiser. Mr. Gitto thinks that is a high number and we don’t have to nor should we necessarily take the TRA appraisal number.
2 Mr. Soto asked if the number of $350K could be changed.
Mr. Feaster responded it would be a disingenuous move to do that. He said it is an “As Is Sale”. Mr. Feaster said the politics is the state has helped with the $175K but also said Mr. Gitto is correct. Mr. Feaster recommended there is no negotiation on price.
Mr. Gitto responded then we are not having any negotiation.
Mr. Lindwall asked Mr. Feaster about item #6 on the Draft Fee Agreement and said he was fine with it so long as there was a proviso that any such employee does not go above the amount agreed upon. Mr. Feaster agreed and said he really doesn’t see our outside costs exceeding $7,500 barring something extraordinary happening.
Mr. Gitto asked about in the Draft Fee Agreement the portion that talks about the Transportation Bond Bill and the $4500 charge. Mr. Feaster responded that is the legal cost which is considered 20 hours at $225 an hour that would be reviewing all the documents and whatever is the legal requirements in order to ensure the SRA interests is protected. Mr. Feaster said most of that are the anticipated costs trying to secure the loan and the grant.
Mr. Lindwall asked if the $175K would go straight from the Administration and Finance to the MBTA or would it come through us. Mr. Feaster responded he did not know. Mr. Feaster said it would
definitely come through Mass DOT. Mr. Soto we do not want it to come through us.
Mr. Gitto asked is the issue with the Transportation Bond Bill whether the Governor is going to line item veto it. Mr. Feaster responded the Transportation Bond Bill is already passed and his presumption is that it is sitting somewhere between A&F and the Budget Bureau. Mr. Gitto asked what Mr. Feaster would be doing for the $4,500 since the Transportation Bond Bill has already passed. Mr. Feaster responded what he was asked to do was to give the outside figure of what we would have to spend. Mr. Feaster said his thing is to charge us $225 an hour to try and get those things done. Mr. Feaster said he had no idea how long it will take and he put in 20 hours to do all that legal work based upon what he knows what it is in securing state funds.
Mr. Feaster said once he has the green light to go from the SRA he can get some answers. The Proposal
Mr. Feaster said there was a number of different directions that were discussed when he was the Interim Town Manager with the Redevelopment Authority. Mr. Feaster said his recommendation was in light of what the Redevelopment Authority is trying to do to try and do it as a committee of volunteers, he doesn’t think is going to be the most efficient way in which the Authority could investigate some of the things. Mr. Feaster said he did not think the Redevelopment Authority as a whole can do everything with the state that needs to be done. Mr. Feaster said he put together a proposal based on what the Town wants to do. Mr. Feaster posed the question would it work to the Authority’s advantage to have a part-time Executive Director with some salary over certain period of part-time rather than trying to do it on an hourly basis. Mr. Feaster told everyone to think about that and offered himself for that position since he now has the time and connections.
Mr. Soto responded that Mr. Feaster has raised an important topic and acknowledged as a group of volunteers they have their own limitations. Mr. Soto said the Board must consider this.
Mr. Lindwall asked if Mr. Feaster could put a ballpark figure around the statement that if he did it on a part-time basis it would be at a less hourly rate. Mr. Lindwall explained our revenue stream is extremely limited as in terms of hiring somebody.
Mr. Feaster suggested putting a time limit on it. Mr. Feaster also said sometimes to make money you have to spend money. Mr. Feaster said if you get grants and federal/state dollars the position could pay for itself.
Mr. Lindwall asked if we get some grant money are administrative costs eligible to be expended as a part of that grant award. Mr. Feaster responded some are and some aren’t.
Mr. Feaster suggested that we look into salaries of similar positions and come up with a figure they would pay a part-time Executive Director for a specific amount of time. He said it’s cheaper than hiring a consultant. Mr. Feaster said the likelihood that you would exceed more the $80 an hour is remote. Mr. Gitto said he would contact the MMA to get comparative salaries. Mr. Soto suggested looking at Salary.com.
Mr.Gitto asked about what is the Registration Fee as a lobbyist. Mr. Feaster responded he would get back to Mr. Vargas on that.
Mr. Vargas said he would send out Mr. Feaster’s Proposal and Draft Fee Agreement to everyone. Mr. Lindwall said he is meeting with Fran Decoste next week and it is to give him the Survey Plan and to get from him what he see the flow chart of the next steps and would like Mr. Feaster to accompany him. He said it would only be 1-2 hours.
Motion was made by Mr. Lindwall and seconded by Mr. Soto that Mr. Feaster accompanies Mr. Lindwall to the meeting with Fran Decoste of the TRA next week. Mr. Vargas agreed.
4 Routine Matters
Payment of Bills
- Recording Secretary’s bill for Administrative Services in the amount of $370.00.
Motion was made by Mr. Gitto and seconded by Mr. Lindwall to pay the Recording Secretary in the amount of $370.00. It was unanimously carried.
Acceptance of Minutes
Mr. Lindwall and Mr. Gitto had some minor corrections to the 1-9-2013 meeting minutes. Mr. Lindwall and Mr. Gitto had some minor corrections to the 1-22-2013 meeting minutes.
Motion was made by Mr. Gitto and seconded by Mr. Lindwall accept the 1-9-2013 minutes as amended. It was unanimously carried.
Motion was made by Mr. Gitto and seconded by Mr. Lindwall accept the 1-22-2013 minutes as amended. It was unanimously carried
Correspondence
- Letter sent to BOS regarding Solar Array Concept - Received letter from DEP regarding Landfill.
- Received payment from Stoughton Recycling Technologies Action Items
Carlos
- Once Roberto gives him the email addresses he will forward them to Eileen for the business cards. - Did not invite Stan Zoll but will invite him to the next meeting.
- Will give Eileen email addresses when he hears back from Roberto that they are all set up.
- Will hand deliver letter to BOS requesting meeting for strategy of Post Office and South Coastal Rail. Forrest
- Has not met with Mr. Gitto on the Urban Renewal plan, but will. - Has number for Charles K. Lynch and will continue to reach out to him.
- Hand delivered letter to BOS regarding the Solar Array Concept and gave them an update on the Train Station.
Lou
- Sent letter to Town Manager regarding a meeting with the GIS person on 1/28/2013. Mr. Vargas responded he had spoken with the Town Manager and was told they are a few weeks behind and that maybe around 2/12/2013 they would be able to act on our request.
- Will work with Mr. Lindwall on the Urban Renewal Plan once he gets more info on the GIS. Roberto
- Has not contacted Dr. Gray regarding linking our town site to the new site, but will
- We have two domains - sra-ma.us and original one is stoughtonredevelopment.ma.org. and individual email addresses will be [email protected]. Will send out instructions to everyone on how to access.
Cheryl
- Put together all documents for audit report and gave to Mr. Soto. Mr. Soto said he also contacted Mr. Fitzgerald at the DHCD regarding our audit report being late and was told that will not be a problem. - Gave Taxpayer ID to Stoughton Cooperative Bank. Did not set up online banking yet.
- Draft letter to BOS requesting meeting regarding strategy of Post Office site and the South Coastal Rail and will send it to Carlos and he will deliver it.
- Legacy Direct deposited all our funds into Stoughton Cooperative Bank. Train Station
Mr. Lindwall said the Survey is done and that the TRA forwarded a copy of the letter from the Mass. Historic indicating they didn’t want to purchase the Train Station. He said he is trying to set up a meeting with the TRA to advance the process.
Mr. Lindwall stated he sent around his mark-up of the TRA RFP and said the TRA Invitation to Bid was a lot simpler to work with. Mr. Lindwall said he would like to proceed with the editing that he has in there. Mr. Lindwall explained that in the TRA’s website the deposit was done on the basis anyone that put in the bid would submit a bid deposit of $10,000. Mr. Lindwall said the successful bidder designated as the successful bidder within 10 days or some time period their $10,000 check would be retained, the second and third most qualified bidders $10,000 deposits would also be retained and everyone else’s bid deposit would be returned. Mr. Lindwall explained that if they were able to negotiate with the
successful bidder that $10,000 less an administrative fee. Mr. Lindwall also stated that if the successful bidder after the Purchase & Sales Agreement defaults or can’t get financing they lose the $10,000. Mr. Lindwall said just shoot him any comments people have. Mr. Lindwall said the RFP wouldn’t go out until the day we actually own the Train Station. Mr. Lindwall stated as far as leasing the property couldn’t we just retain a realtor to lease it out for us rather than us doing a RFP.
Mr. Soto responded that was a good point and Mr. Vargas agreed. Mr. Gitto responded we should look at what the law is.
Post Office
Mr. Lindwall said he kicked around a few ideas with Joseph Feaster. Mr. Lindwall said Joseph Feaster suggested maybe we should team up with the Randolph and make it two communities going to the Post Office. Mr. Lindwall said the best place for the Post Office to go was the Armory, but the Fire Dept. is looking at that spot.
Mr. Lindwall said we couldn’t go to the Post Office without a plan.
Mr. Gitto suggested having a meeting with the BOS regarding the Post Office strategy.
Motion was made by Mr. Gitto and seconded by Mr. Lindwall that Chairman Vargas sends a letter to the BOS requesting a strategy session regarding Post Office. It was unanimously carried. Mrs. Barrett agreed to draft the letter to the BOS regarding the Post Office and send it to Chairman Vargas to sign and hand deliver.
6 Urban Renewal Plan
Mr. Gitto said he is waiting to have a meeting with the GIS person. Treasurer’s Report
Mr. Soto reviewed the monthly Financial Statement.
Mr. Soto said he would resend a revised IPS to everyone and also send the original out to Mr. Gitto. Mr. Soto said from there he would put together the final guidelines. Mr. Soto reiterated he would not put anything in it regarding investment recommendation or anything like that because that is not his role. All the Legacy Direct Treasury money was redeemed and deposited into our current bank. Mr. Soto suggested the following:
1. We must open another two bank accounts ASAP and move some of that money because FDIC only covers up to $250K.
2. Eventually we should move all the money from its current bank.
3. Use a local bank and a national bank and a bank that would give us more access to investment opportunities.
Mr. Lindwall recommended Rockland Trust and Randolph Savings Bank and also added Eastern Bank. Mr. Soto said he would look in some banks. Mr. Soto said he likes Fidelity and they are terrific to deal with. Mr. Soto also agreed to look into who is covered under the FDIC and write up the Investment Policy Guidelines and send out that draft.
Mr. Lindwall said this should happen soon. Mr. Soto said he would do the following:
1. Recommendations for which Banks, how many accounts and how much money 2. Send a Final Draft of the Investment Policy Guidelines
Mr. Soto said if anyone has recommendations for a Financial Manager Advisor please send them to him. Mr. Gitto responded if we invest in Mutual Funds then we don’t need an advisor to do that and Mr. Soto agreed and said that would be his recommendation; but said there is one component of that that we need someone and that is the “Risk Component”.
Mr. Gitto responded can we collectively agree on the “Risk Component” and Mr. Soto said yes.
Mr. Soto asked if everyone agrees via email on opening up some bank accounts do we want him to open them. Mr. Gitto responded that we can’t make any decisions via email and that we must have an actual meeting to decide on that.
Mr. Soto said then he would look into everything a get back to everyone this week and that we might have to have a quick meeting to make some decisions regarding the banks. Everyone agreed.
Old Business/New Business Old Business
Page Street Landfill – Mr. Gitto said the letter we received from the DEP dated 1/29/2013 indicated a 5-year extension for Stoughton Recycling Technologies on the C&D facility.
Business Cards - Mr. Vargas is just waiting for email addresses from Mr. Soto. SRA Vacancy – Mr. Vargas said the ad was in this week’s PennySaver.
Policies and Procedures – Will be discussed at the next meeting.
Mr. Lindwall brought up the Mass. DOT Newsletter. He said the Planning Board is submitting
applications for grants for the South Coast Rail and he thinks we should be holding hands with the Town Planner and the Town.
Mr.Gitto suggested maybe we should also add to the letter we are sending to the BOS the South Coast Rail.
Motion was made by Mr. Lindwall and seconded by Mr.Gitto to amend the letter to the BOS to include the topic of the South Coast Rail.
Next meeting was scheduled for February 20, 2013 but was changed to February 27, 2013. Adjournment
Motion was made by Mr. Lindwall and seconded by Mr. Gitto that the meeting be adjourned at 9:07 p.m. It was unanimously carried.
