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would be approximately $1,115,653. Ms. Manz asked members if they felt comfortable with this $1.1 million reserve, or if they preferred a higher amount. Mr. Adler stated that the $2.0 million reserve might be wise in light of consistently decreasing State Match amounts. Ms. Weiss commented that it appeared that the most important conservation parcels have been acquired, which she noted was the primary purpose of the $2.0 million reserve. Mr. Adler suggested that the Committee find a middle ground between the $1.0 and $2.0 million amounts. Mr. Cohen moved that the CPC maintain a reserve between the $1.0 and $2.0 million dollars. This motion was seconded and approved by the CPC (9-0). 3.LexHAB Set-Aside Funds for Housing Acquisition – Bill Hays, Co-Chair of LexHAB, met with the CPC to discuss the Committee’s straw vote at its previous meeting, and its stipulation that LexHAB use its FY13 CPA monies to fund multiple units rather than individual homes as has been LexHAB’s custom. There was a lengthy discussion of LexHAB’s use of CPA funding, and whether the FY13 CPC-approved funds should be held by the organization for later use on the Leary or Busa properties. Mr. Hays reminded members that the 2011 Annual Town Meeting had sought assurances from the Selectmen that LexHAB’s CPA funds would not be used on an affordable housing development on the Leary property without returning to Town Meeting. There was a discussion of LexHAB’s tenant selection process and the inclusion of its units in the SHI. Mr. Adler suggested that LexHAB should continue to have discretion regarding the spending of CPA funds and suggested that the amount remain at $500,000. Ms. Shaw agreed that the CPC should not tie the hands of LexHAB, but suggested that $450,000 would be sufficient. Ms. Weiss said that it was unclear when new construction development would happen in Lexington, and it was therefore important to recommend funds for LexHAB to buy existing small homes to create affordable units. She noted that LexHAB has added 26 units to the Town with CPA funds at a cost of $2.6 million - $260,000 per unit - very much in line with multi-unit construction. She said she felt it would be unfair to specify how the funds were to be spent, and suggested LexHAB be approved for $500,000 for their project. Mr. Adler made a motion to approve $500,000 for LexHAB in unqualified CPA funding (though still adhering to the CPC Guidelines). The vote of the CPC was (4-5) on this motion. Mr. Wolk made a subsequent motion to approve $450,000 in unqualified funds. This motion was voted on and approved (6-3). 4.Paint Mine Barn Restoration – Ms. Mullins, Director of Community Development, had submitted a cost breakdown for this project at Mr. Adler’s request. Mr. Adler was still unsatisfied with the cost analysis was inadequate, and preferred that it had been fully prepared by the Facilities Department. He 2