A central issue at the meeting was the handling of excess equity from abandoned properties. Council members discussed a memo that outlined the legal framework for using these funds. The memo, which referenced Chapter 60, Section 64A, suggested that excess equity could remain under city control instead of being transferred to the state’s unclaimed funds. This was a point of discussion, as it provided a pathway for the city to utilize the funds for community benefit rather than sending them to the state.

Council members were in general agreement that the excess equity should be used for public purposes, but there were differing opinions on how to proceed. One member stressed the importance of legal clarity and proposed reaching out to the city attorney for guidance. Others expressed interest in earmarking these funds for specific community initiatives, particularly those aiding vulnerable populations such as the elderly and disabled. The conversation highlighted the complexities of the legal framework, and there was a consensus that further examination and possibly an ordinance would be necessary to move forward.

In parallel, the council discussed the development of a fundraising prospectus aimed at potential donors. The prospectus was intended as an introductory document to encapsulate the essence of the city’s fundraising efforts. During the meeting, there was a suggestion to accompany the prospectus with a more persuasive sales tool to enhance its effectiveness. Furthermore, the council deliberated on setting a fundraising goal, with proposals ranging from $20,000 to $50,000, based on the number of households targeted for support.

The council also explored potential corporate donations, debating the merits of approaching local businesses versus larger corporations. There was a suggestion to target businesses with significant local presence, such as Cumberland Farms and Greenfield Savings Bank, while acknowledging that larger corporations might offer more substantial funding opportunities. However, concerns were raised about the challenges of appealing to larger entities, given the numerous requests these corporations receive. It was noted that personal engagement and a compelling pitch would be crucial in securing donations, regardless of the size of the potential donor.

Another important aspect of the meeting was the discussion on engaging the community in fundraising efforts. The council recognized the value of involving community members who have established relationships with local business owners. There was a debate on whether a committee member should accompany any community member during solicitation meetings, with some arguing that personal connections could facilitate donations more effectively. The council also considered continuing solicitation efforts through mailings with tax bills, a method that had yielded modest success in other towns.

As the meeting progressed, members emphasized the need for a well-prepared prospectus and sales materials before reaching out to potential donors. The importance of a polished and professional presentation was highlighted as important to enhancing the chances of successful fundraising. Plans were made to gather a comprehensive list of potential donors by the next meeting, scheduled for December 11. Members expressed a desire to maintain momentum in fundraising efforts despite the approaching holiday season, and there was an acknowledgment of the need for a structured plan for outreach initiatives.