Infrastructure Investment Fund, June 27, 2014

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Meeting Date: 
June 27, 2014

Holden Infrastructure Investment Fund Minutes

Board of Trustees Meeting  June 27, 2014 Starbard Bld.

Attending: Chairwoman, Deborah McDonnell

Town Manager Jacquie Kelley

Al Berg

Dawn Michanowicz

Ed Benoit

Jim Dunn

Paul Challenger

Discussion occurred with Town Manager about the future role of the IIF.

It was agreed by all that the Fund should continue to contribute

to capital projects important to the town infrastructure, most notably the need

for a new DPW building and renovations to town municipal offices as identified in the Town Master Plan.

It was also agreed that in order for the IIF to continue to function effectively as a

mechanism for smoothing out the tax payers burdens and to be viewed as a stabilizing factor by the bond rating agencies, it is of paramount importance that the town continue to fund the IIF at a level whereby  it has the funds to make meaningful contributions to future projects.

The Trustees decided to discontinue the concept of a subfund  and to report this in the annual TownReport.

Respectfully submitted,

Deborah McDonnell, Chairwoman IIF Board of Trustees.