City Council - Finance Committee

Finance Committee Minutes April 23, 2025 Members present: Chair Tom Peake, Councilor Koni Denham, Councilor Peg Conni Members absent: None Also in Attendance: Conservation Agent: Eva Gerstle; Patrick Arguin, CEO Lathrop; Barb Walvoord, Resident at Lathrop Meeting called to order by Councilor Peake at 5:33 pm 1. Public Speak Time: No one from the public chose to speak 2. Approval of the Prior Meeting Minutes: None to approve 3. Mayor Communications: Mayor not present 4. New Business: Community Preservation Act Committee Supplemental Appropriation Requests - (1). $69,382.00 to Lathrop Community for Invasive Plant Removal (years 2/3) (2). $201,875.00 to Valley CDC Mortgage Subsidy Financial Literacy. 4.1. Conservation Agent introduced Barbara Walvoord of Lathrop who discussed how the CPA money has been used. 3 year project at Lathrop to eradicate invasive species plants. Both Northampton CPA and Easthampton CPA monies have been used. It was intended to be a 3 year project and a 3-year split pay out. Year 1 funds from Northampton ($33K) were spent in Year 1 by Lathrop. There was a delay with Easthampton due to sta ng issues. The work has taken longer than anticipated and the contractor was going to move onto another project. Lathrop o ered to provide an in ation adjustment and with the help of volunteers, and if funding for years 2&3 is provided all in Year 2 they are con dent they can complete the project. At the end of the 3 year project, 110 acres will provide a gure for animal critters that have evolved to feed from native species. CPA had unanimously approved this request. Councilor Denham suggested that the BEES committee be connected with Lathrop for volunteer opportunities. ff fl fi ff ffi fi  Motion by Councilor Conni to approve the Supplemental Appropriation of $69,382 from CPA Received for Open Space (1,948.00) and CPA Undesignated Fund ($67,434.00) to Lathrop Years 2/3 Invasive Removal Second by Councilor Denham. Vote 3-0 APPROVED 4.2 Alexis Breiteneicher of Valley CDC presented on how the subsidy from CPA would be use. - Mortgage Subsidies - (3) $50,000 for each. - Financial Literacy - $51,875 First Time Home buyers classes Housing Counseling Motion by Councilor Denham to approve the Supplemental Appropriation of $201,875 from CPA Reserved for A ordable Housing ($200,913) and CPA Undesignated Fund ($962.00) to Valley CDC Mortgage Subsidy Financial Literacy. Second by Councilor Conni . Vote 3-0 APPROVED Remaining CPA Balance for FY25 budget: $721,222 5. Continuing Business: Quarterly scal reports from the City Auditor 5.1. No report No additional business to discuss. Councilor Denham made motion to adjourn, Councilor Conni seconded. Vote: 3-0. Meeting adjourned at 6:10pm. Respectfully submitted, Councilor Peg Conni ff ff ff ff ff fi