Town of Provincetown

School Committee

Joint Meeting

with
The Board of Selectmen

Monday January 31.2005_________________________6:00 P.M.

Members Present: Terese Nelson, Debra Trovato, Molly Perdue, Peter Grosso Absent: Burton Wolfman

Others in Attendance: Dr. Colette B. Trailer, Cheryl Andrews, Mary-Jo Avellar, Richard Olson and Keith Bergman

Discussion began regarding PHS Annex MOU - Surplus Declaration and Reuse Disposition

1. The Provincetown School Committee hereby declares the PHS Annex at 5 Holway Avenue, comprised of 0.3 acres, more or less (Assessor's Map 07-4-065-A) as surplus to its needs and available for transfer to the Board of Selectmen for purposes of conveyance, subject to the provisions of this Memorandum of Understanding, as set forth below.

2. The Provincetown Board of Selectmen hereby declares, pursuant to MGL c. 30B, § 16, clause (a), and contingent upon the authorization of Town Meeting, that the PHS Annex at 5 Holway Avenue, comprised of 0.3 acres, more or less (Assessor's Map 07-4-065-A), no longer being needed for municipal purposes, is available for disposition pursuant to MGL c. 30B, §16. The future use of the property shall be subject to the following restrictions: (1) the minimum selling price shall be $800,000; (2) the disposition may be made by sale or lease-purchase agreement over a period determined in the discretion of the Board of Selectmen to be in the best interests of the Town; (3) the disposition to be to a non-profit organization; and (4) future uses of the property to be defined in the solicitation of offers shall be limited to marine-related purposes, including an educational component.

3. Said conveyance shall substantially reduce or eliminate the School Department's debt service obligation pursuant to the vote under Article 7 of the April 1, 2002 Special Town Meeting which provided that half of the local debt service cost for the SBA-reimbursable PHS and VMES school building projects "shall be paid from the school department through one or more of the following ways ... (3) the sale or lease of the annex."

4. The entire proceeds of sale of the Annex, together with the $75,000 energy rebate from the Cape Light Compact for electrical improvements made to

Provincetown High School, shall be used to reduce the principal amount that the Town borrows as its local share, as shown in Attachment "A"; and shall also be credited towards the School's debt service obligation as a reduction in principal as shown in Attachment "B".

5. As savings it can realize from not having to fund the maintenance and
operation of the Annex, the School Committee shall decrease its FY 2006 budget
request by $20,000, from $4,172,958 to $4,152,958; and that said $20,000 shall
also be credited towards the School's debt service obligation as a reduction in
principal as shown in Attachment "B",

Motion by: Richard Olson Seconded by: Mary-Jo Avellar Yea 3
Nay 0

Motion to adjourn School Committee portion of meeting. |

Motion by: Peter Grosso Seconded by: DebraTrovato
6:45 p.m.