BOARD OF FINANCE

MINUTES OF THE REGULAR MEETING OF OCTOBER 19, 2006

Present: Ralph C. Gold, Chairman, Celia Senzer, Sally Hart, Tom Bechtle, Anne Ingvertsen, members. Ginger Betti, John LaPorta, alternates. Gordon Ridgway, First Selectman; Barbara Bigos, Assessor.

Chairman Gold asked John LaPorta to sit for Earl Brecher, who was absent; and Ginger Betti to sit for Anne Ingvertsen, who arrived late.

In the absence of clerk Lisa Simont, Tom Bechtle agreed to take minutes.

The minutes of the September 21 meeting were approved as presented.

Cornwall Assessor Barbara Bigos spoke on the recent revaluation. She reported that the taxable real estate portion of the new Grand List is $423,307,820, a 92% increase in the real estate portion of the list, largely because of a strong market over the last five years and the fact that many properties were heretofore underassessed. She expects a 84% increase in the FINAL Grand List, before adjustment on appeals. The final percentage increase for the total Grand List is conservatively expected to be closer to 80%.

Bigos also suggested that a formula for calculating new (2007-2008) tax rates accompany notices of reassessment, to be mailed in November.

Celia Senzer moved and John LaPorta seconded a motion

To authorize Chairman Gold and Lisa Simont to (1) come up with an estimated mill rate for FY 2007-2008 taxes based on the pattern of increase over the last five years; and (2) to notify board members of that estimated rate before releasing same to Barbara Bigos for inclusion in the reassessment mailing.

The VOTE to approve was unanimous.

John LaPorta, reporting for the CCS School Building Committee, reported that the final Certificate of Occupancy for the building was received on October 6. Of $25,258 left to spend as of 8/15/2006, $7,436 was spent variously on septic repair, as-builts, and flush storm system (based on an estimate for the latter of $1,500). This leaves a balance of $12,327, which will be used to pay for contracted work (October and November) for dumpster enclosure, railing extensions, and fire pond and stilling basin. The end-of-year balance of $5.495 will be spent in 2007 on two or three very small projects.

Reporting for the Standing School Building Committee, John reported that of the staring FY 2006-2007 capital budget of $82,977, $54,765 had been spent on windows, leaving a balance of roughly $28,000. A further expenditure of $9,900 is expected (in anticipated bills from Torrington Sash & Door and Lazlo’s painting), leaving approximately $18,000.

First Selectman Gordon Ridgway reported on the installation of an emergency generator in the Town Hall to be funded by a grant from Homeland Security. He also informed the board of savings on health insurance premiums for town employees, and the fact that the Town of Cornwall had received a pledge of $250,000 in the form of a STEAP grant earmarked for improvements to the Cornwall Historical Society building on Pine Street.

Ridgway also discussed the town’s Five-Year Capital Plan and walked the board through a slightly raised estimate for fiscal years 2008 to 2012.

A motion to recommend the Five-Year Plan to the town was made by John LaPorta and seconded by Anne Ingvertsen.

The VOTE to recommend was unanimous.

Discussion followed regarding a proposed gift of a 1.43-acre parcel on the east side of Route 7, currently surrounded by town land, by the Cornwall Conservation Trust. (The land came from the estate of Lynnerna Niebergall.) On a motion made by Celia Senzer and seconded by Sally Hart

To recommend to the town acceptance of 1.43 acres from the Niebergall estate.

The VOTE to approve was unanimous

The board discussed a proposed ordinance that would provide that real property acquired by the town, the CCT, Cornwall Housing Corp., or Habitat for Humanity be exempt from taxes. No vote was taken on this matter.

On a motion made by Sally Hart and seconded by Anne Ingvertsen, the meeting adjourned at 9:37 p.m.

Tom Bechtle

Clerk pro-tem