HomeMy WebLinkAboutFCMeetingMinutes_12.18.12 l
TOWN OF NORTH ANDOVER
r sit A I
FINANCE COMMITTEE
Meeting Minutes
Meeting Date: December 18, 2012
Meeting Location: Town Hall 1st FL Meeting Room Meeting called to order: 6:50
Alan LeBovidge AL, Chairman x Michelle Nadeau- MN x
Tom Dugan TD,Vice Chairman Robert Norbedo-RN X
Darin Blake KB X Matthew Renis-MR X
Llan.Leary-DL K
Bill.Callahan BC K Pat Sifferlen,PS,Admin X
Donald Elliot DE x
Non FinCom Members in Attendance
OTHERS: Bill Gordon (BG) Steve Foster (SF) Stan Limpert (SL)Andrew Maylor (AM)
Note:All FINCOM votes are subject to change upon receipt of new information.
Note: Documents used in this meeting are listed in Document Table,herein.
II. Previous Minutes Approved
DATE
III.New Business
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AGENDA ITEM A: ESCO DâșISCUSSICN`
Discussion: AL 3 elements up for discussion about Ameresco
1) What town wants to get done
2) How it will be financed
3) Contractual term of contract
AM: Opportunity to generate energy savings investments more aggressively than a
traditional method.
Project on the table represents recommendations by the finance committee and others
It is a "one stop shopping" everything completed in one project use savings to cover
cost. One OPM for all projects. If doing separate it would not be efficient.You
would not generate savings as quickly. Schools have most of project at 85%very little
invested in fire department because hoping to move community development there.
Ability to do these projects we otherwise would not be able to. Savings help pay the
cost. Energy savings to help improve our infrastructure in a single contract.
Commissioning we are holding back to make sure everything is in place.
Financing: Do we lease or Bond?
Most likely will bond there are very competitive rates. Will go through Bond counsel.
Leasing would be put out to competitive market.
11.3 year payback. Financing terms as close to payback years as possible.
Legal perspective. There is no energy savings agreement contract right now. We still
need to negotiate contract terms we go through same process .Specialty counsel to
review and for the benefit of the town. Will also need approval from the town to
proceed.
Federally established standards need to be met and will be part of the negotiating.
AL How do we deal with not getting savings?
AM: we don't go into project expecting payment for non savings their projected
savings are on conservative side.They don't want to issue a check our goal is to
achieve what is on paper.
Ameresco will sub out work but if there are problems, out contract is with Ameresco,
They are responsible to fix any problems that arise.
KB Would like to see the ESA for library it may give us a clue as to what next one
looks like..
Discussion was brought up about how long is the Town covered by Ameresco after
the 18 months installation period.Are they on for 18 months or are they in for the full
1.5 years. Alan will contact the Town Manager to get answer.
BC would like to see the numbers in simple terms
AM will send out sheet in morning.
CIP Book was distributed to members for review
AL Would all to think about what has been said at meeting and will vote at next
meeting.
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IV.Next Meetings
January 8, 2013
V. Adjournment-
Motion: DL Unanimous
Seconded. DE Time: $:30
TYPE FROM TO SUBJECT COMMENTS
ITEM
1 CTP Book Andrew Maylor Fincom
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