2013-01-22-CEC-min-exec - Laserfiche WebLink

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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting January 22, 2013, Executive Session Ms. Hai expressed her concern that the Town cannot re -sell the land if CPA funds are used. Mr. Valente said he will discuss this further with Town Counsel, but based on experience with the Busa property and his understanding of the issues, if CPA funds are used to purchase property, it should be possible to sell said property before the Town puts any restrictions on it, but the Town will then need to reimburse the CPA funds. Mr. Kanter reported that the Community Preservation Coalition advised that including restrictions as part of a purchase using CPA funds is expected by the State. Mr. Hurley wondered if the property owners would want to negotiate some restrictions on what the Town could do with the property if the Town purchased it. He imagines that they would prefer having the Town own the property over multiple houses. It was noted that a developer could out -bid the Town, which cannot pay more than an appraised value of the property. Ms. Mauger explained that a negotiated price for the property has not been determined, nor has a maximum acceptable threshold been established by the Town. Regarding the need for the property, she said that different people interpret need differently; this is a value judgment. She is asking herself whether the property can benefit the Town and whether this is an opportunity the Town shouldn't pass up. Based on a careful analysis by The Cecil Group, consultants being used by the Selectmen- appointed Ad hoc Town -wide Facilities Master Planning Committee (AhTFMPC), the property's best use for the Town would be as a new community center. In Ms. Mauger's opinion, that use is currently on par with replacing the police and fire stations in terms of need. Ms. Mauger said she is interested in getting input from the AhTFMPC, but recognizes that they will not complete their work before the Selectmen have to make their recommendations regarding this purchase. She added that the Town is in a position to pursue both this purchase and a new fire station within the next five years, but the Town cannot additionally support in that time frame all of the other large capital projects that have been identified, such as Cary Memorial Building renovations, a new police station, and several new schools. Mr. Valente explained that he is waiting for the new Fire Chief to clearly identify a project for the fire station; thus the project is not being proposed for any funding in FY2014. It is recognized that the current Bedford Street station site is limited in size, so it doesn't work very well for what had been the last design proposal. Other locations have been considered, but the best sites might require a taking by eminent domain. Ms. Mauger added that no capital projects are on hold because of this potential purchase. She emphasized that the AhTFMPC report will inform the Town in its effort to prioritize projects. Ms. Mauger discussed the potential financing process for making this purchase. If CPA funds are used (where eligible), it may be possible to fund the balance through the general tax levy, which requires only Town Meeting approval; while a debt exclusion requires a referendum. She asked, rhetorically, whether having Town Meeting approval is sufficient for Page 2 of 5