Lincoln selectmen sign three union contracts and execute Denormandie conservation restriction

LINCOLN — September 10, 2012 — Lincoln selectmen sign three union contracts and move $621,420 to housing trust. The Board of Selectmen on Sept. 10 executed three-year collective bargaining agreements with the police, fire and DPW unions covering fiscal 2013 through 2015, with cost-of-living adjustments of 2, 2.5 and 3 percent. Town Administrator Tim Higgins said employee cooperation on health insurance changes has produced "over $1 million" in savings. The board also transferred $621,420.82 in net proceeds from the $650,000 sale of 18 Twin Pond Lane — bequeathed by the late Florence Hollingsworth — to the Lincoln Municipal Affordable Housing Trust, and approved a conservation restriction on the 54-acre Denormandie parcel acquired for $1.97 million with $1.6 million from the City of Cambridge. Finance Committee Chair Laura Sander said a 20-year hybrid bond for the school building project would save roughly $9 million over a 30-year term.