“For the 4th Plus Time”, Cineplex Back to Town Meeting For Vote?

Honor The Agreements
Committee To Perserve Lynfield

For the 4th plus time, National Development will be asking the town to allow a Cineplex. They will be making a presentation to the MarketStreet Advisory Committee on Thursday Feb 22nd at 7:00 PM at the Merritt Center, 600 Market Street Lynnfield.
Will update as information is available.

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VOTING TODAY- ATTORNEY MICHAEL WALSH, LYNNFIELD REPUBLICAN RESIDENT RUNNING FOR OPEN SENATE SEAT

Attorney Michael Walsh of Lynnfield is hoping to capture 300 write-in votes today. The needed 300 required votes will ensure a republican candidate and a contested race, occurs in the upcoming November election for the open State Senate Seat. The seat was recently vacated by Rep. Tommy McGee. Polls are currently open and will close at 8pm tonight.

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Changes At Sagamore Golf Course

Golf CourseAt Monday’s Selectmen meetings, a 55+ senior development was proposed for the Sagamore Golf Course. Currently the Sagamore Golf Course is taxed at a reduced rate under Chapter 61B, to protect open space. If the use changes, such as by development, the protections of Chapter 61B are triggered. The Townspeople have a right of first refusal to buy the golf course, instead of the developer, to keep the spaces green and open. The Town is also entitled to receive 5 years of back-taxes based on the full-rate rather than the reduced rate. Currently there are two major parcels, amounting to 168 acres of land. One parcel is valued at $1.2M and the other is valued at $1.8M.
I have submitted a Public Records Request to the Town asking about the valuation of the property and the estimated back taxes.
Please see below for more information:

Chapter 61B: CLASSIFICATION AND TAXATION OF RECREATIONAL LAND
Section 7: Land sold for other uses; conveyance tax; nonexempt transfers
Section 7. Any recreational land which is valued, assessed and taxed under the provisions of this chapter, if sold for other use within a period of ten years from the beginning of the fiscal year in which it was first so classified shall be subject to a conveyance tax applicable to the total sales price of such land, which tax shall be in addition to such taxes as may be imposed under any other provision of law. Said conveyance tax shall be at the following rate: ten per cent if sold within the first five years of its being first so classified; and, five per cent if sold within the sixth through tenth year of its being first so classified. No conveyance tax shall be imposed under the provisions of this section following the end of the tenth year of its being first so classified. The conveyance tax shall be due and payable by the grantor at the time of transfer of the property by deed or other instrument of conveyance and shall be payable to the tax collector of the city or town in which the property is entered upon the tax list. In the case of taking by eminent domain, the value of the property taken shall be determined in accordance with chapter 79, and the amount of conveyance tax, if any, shall be added as an added value. If there is filed with the board of assessors an affidavit by the purchaser that the land is being purchased for recreational use, no conveyance tax shall be payable by the seller by reason of the sale, but if the land is not continued in that use for at least 5 consecutive years, the purchaser shall be liable for any conveyance tax that would have been payable on the sale as a sale for other use. The conveyance tax shall be assessed only on the portion of land whose use has changed. Notwithstanding the foregoing provisions, no conveyance tax shall be assessed if the land involved, or a lesser interest in the land, is acquired for a natural resource purpose by the city or town in which it is situated, by the commonwealth or by a nonprofit conservation organization, but if any portion of the land is sold for or converted to commercial, residential, or industrial use within 5 years of acquisition by a nonprofit conservation organization, the conveyance tax shall be assessed against the nonprofit conservation organization in the amount that would have been assessed at the time of acquisition of the subject parcel by the nonprofit conservation organization had such transaction been subject to a conveyance tax. The conveyance tax shall be assessed only on the portion of land whose use has changed.
Except with respect to eminent domain takings, this section shall not apply to the following: mortgage deeds; deeds to or by the city or town in which the land is located; deeds which correct, modify, supplement or confirm a deed previously recorded; deeds between husband and wife and parent and child when no consideration is received; tax deeds; deeds releasing any property which is a security for a debt or other obligation; deeds for division of property between owners without monetary consideration; foreclosures of mortgages and conveyances by the foreclosing parties; deeds made pursuant to a merger of a corporation or by a subsidiary corporation to a parent corporation for no consideration other than cancellation and surrender of capital stock of the subsidiary which do not change beneficial ownership; and property transferred by devise or other as a result of death. A nonexempt transfer subsequent to any exempt transfer or transfers shall be subject to the provisions of this section. Upon such nonexempt transfer the date of acquisition by the grantor, for purposes of this section, shall be deemed to be the date of the last preceding transfer not excluded by the foregoing provisions from application of this section; except that in the case of transfer by a grantor who has acquired the property from a foreclosing mortgagee the date of acquisition shall be deemed to be the date of such acquisition. If any tax imposed under this section should not be paid, the collector of taxes shall have the same powers and be subject to the same duties with respect to such taxes as in the case of the annual taxes upon real estate. The law in regard to the collection of the annual taxes, to the sale of land for the nonpayment thereof and to redemption therefrom shall apply to such taxes, so far as the same are applicable. Any classified recreational land which is valued, assessed and taxed under the provisions of this chapter, if changed by the owner thereof to another use within a period of ten years from the date of its classification for recreational use by said owner, shall be subject to the conveyance tax applicable hereunder at the time of such change in use as if there had been an actual conveyance, and the value of such land for the purpose of determining a total sales price shall be fair market value as determined by the board of assessors of the city or town involved for all other property.
Notwithstanding this section, no conveyance tax imposed by this section will be assessed on land that meets the definition of forest land under section 1 of chapter 61 or the definition of agricultural land under sections 1 and 3 of chapter 61A or the definition of horticultural land under sections 2 and 3 of chapter

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Planning Board Meeting, Sagamore Golf Course and More

Agenda for the Jan31 meeting. Sagamore Redevelopment on the agenda
MEETING NOTICE TOWN OF LYNNFIELD PLANNING BOARD
Date: Wednesday, January 31, 2018
Time: 7:00 p.m.
Location: H. Joseph Maney Meeting Room, Lynnfield Town Hall 55 Main Street, Second Floor, Lynnfield, Massachusetts * * *
AGENDA

1. Call to Order ……………………………………………………………. Mr. Charville

2. Updated Reference books, including Subdivision Rules and Regulations and Zoning By-Laws

3. Master Plan update ……………………………………………………. Mr. Sheehan

4. 1 Wing Road – Board of Appeals case – Review of Site Plan vis-àvis special permit requested under the Groundwater Protection District (Zoning Bylaws Section 9.3.7) (area of imperviousness proposed to be increased beyond the threshold levels set in the Bylaws)

5. 7:15 – Public Hearing – Sagamore Place (f/k/a Janet Way) – Subdivision modifications (addition of two ANR lots; changes to homeowners’ association & stormwater management facilities)

6. 7:30 – Continued Public Hearing – Zepaj Lane (Broadway / Green Street) – Proposed Definitive Plan of Subdivision

7. Sagamore Spring Golf Course, 1287 Main St. – Presentation by owner and affiliated professionals regarding proposed rezoning & redevelopment

8. 16 Essex St. – Release of Form G (Conditional Approval Contract) and HOA Trust for rescinded subdivision

9. Approval of Minutes – August 30, 2017; December 28, 2017

10. Topics for next meeting * * * Next Scheduled Meeting: Wednesday, February 28, 2018, 7:00 p.m. Date and Time Subject to Change

Thank you,
Wally

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Funding for our Employees

OPEB-Components

Other post-employment benefits (OPEB) are the benefits that an employee will begin to receive at the start of retirement. This does not include pension benefits paid to the retired employee.
Other Post-Employment Benefits (OPEB) – Investopedia
https://www.investopedia.com/terms/o/opeb.asp

Dear Lynnfield Residents,

Lynnfield has gone through many changes over the years and through it all, our town employees have continually provided us many services, while maintaining our lovely town and educating our children. As we look towards the future, we will be asked to vote on potential building and maintenance projects. As part of this discussion we should consider our obligation to our employees and understand how they could contribute and affect our budgets moving forward.

For a closer look at how our employee needs and our payroll has changed over the past 10 years, the following chart has been provided below. This information is based on Massachusetts DOR (Department Of Revenue) information. During this time frame, the number of employees has increased approximately 11%, while our payroll has increased 52%. Since 2013, with the opening of Market Street, we have increased the number of employees by almost 3%, while our payroll has increased approximately 15%.

Fiscal Year Total FTE (Full-Time Employee) Total Wage & Salary Expenditure
FY2006 378 18,668,847
FY2007 393 19,109,844
FY2008 398 19,964,149
FY2009 407 22,134,759
FY2010 399 21,842,638
FY2011 400 22,508,215
FY2012 408 23,320,447
FY2013 410 24,652,108
FY2014 418 25,736,930
FY2015 425 27,184,976
FY2016 420 28,377,343

Our obligation to meet our employees’ payroll will continue through their retirement. Moving forward, OPEB (Other Pension Employee Benefits) should become more important in our budgetary planning. In S&P’s Global Ratings Report, dated March 31, 2017, the following statement was made: “Lynnfield’s large pension and OPEB obligation, without a plan in place we think will sufficiently address the obligation, is a credit weakness. Lynnfield’s combined required pension and actual OPEB contribution totaled 7.9% of total governmental fund expenditures in fiscal 2016. Of that amount, 4.3% represented required contributions to pension obligations and 3.5% represented OPEB payments. The town made its full annual required pension contribution in fiscal 2016. The funded ratio of the largest pension plan is 51.8%.”

The S&P Ratings Report went on to say, “Lynnfield also provides OPEB to retirees. As of July 1, 2015, the most recent actuarial valuation, it reported a $69.8 million OPEB liability, an increase from $56.3 million as of July 1, 2013. Lynnfield has traditionally funded OPEB through pay-as-you-go financing. It paid $1.8 million, or 3.5% of expenditures, which was 23% of the annual required contribution, in fiscal 2016. The OPEB Trust Fund has a current balance of $600,000; officials plan to add an additional $300,000 in fiscal 2018. We note this is not enough to address the OPEB plan fully based on the growth rate of liabilities. In our opinion, large growing pension and OPEB liabilities could add budgetary pressure.” The report went on the say a negative factor is “…but significant medium-term debt plans and a large pension and other postemployment benefit (OPEB) obligation and the lack of a plan to sufficiently address the obligation;” Therefore the town should be very diligent when considering any new debt.

Today, S&P Bond Rating of Lynnfield is AA+, with the highest bond rating being AAA. The report concludes: “The stable outlook reflects S&P Global Ratings’ opinion of Lynnfield’s, at least, strong budgetary flexibility and very strong economy, supported by its access to the Boston MSA. We believe the town’s very strong liquidity, with limited capital needs, provides additional rating strength. Therefore, we do not expect to change the rating over the next two years.”

I hope you have found this information useful. I would like to thank all of our town employees and volunteers that contribute to our town and make us proud to call Lynnfield our home.

Kind Regards,
Katy Shea

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The Town of Lynnfield is asking residents to help prevent flooding by clearing the storm drains around their homes of snow and debris.
In anticipation of heavy rains, warm temperatures and resulting melting of snow and ice, flooding conditions could quickly arise in Lynnfield. While public works crews will be busy for the next few days clearing culverts and attending to problem spots, it is impossible for Town workers to clear every storm drain and catch basin in Town. We are asking resdient to help prevent flooding in their newighborhoods by clearing away any snow and ice, as well as leaves, twigs, trash and other debris from storm drains and catch basins around their home.
Thank you for your cooperation!
Town Administration
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WINTER-STORM-1024x576

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2018 new year

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