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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting March 6, 2013, Executive Session The CPC discussed the uses being proposed for the property if purchased (i.e., Open Space & Historic Preservation) in consideration of the purposes of the CPA. There was objection to the absence of any provision for Community Housing or even a deferred decision on some being provided on the property— whether within the part of the property proposed for funding by the CPF or the balance to be funded from the General Fund. It was noted that the Selectmen- appointed Ad hoc Townwide Facilities Master Planning Committee had sent a letter to the Board of Selectmen recommending that if purchased, the uses should be (just) Open Space & Historic Preservation. A Motion was made and seconded that the CPC endorse the purchase if for the proposed CPF portion of the purchase price being offered to the seller and that the uses be Open Space & Historic Preservation. The vote was 7 -1. This Committee discussed what the CPC had heard and done, and then the pros & cons relative to up -front use of the CPF versus holding in reserve a portion of what had been proposed to apply to the purchase. Mr. Lamb asked whether Mr. Addelson's model, as had an earlier model, included the assumption that a steady percentage of each prior - year's CPA surcharge would be provided by the State as a supplement to the Town's surcharge revenue (and minor interest income) each year. Mr. Kanter said it did, and Mr. Lamb was concerned with including that supplement in the analysis of the out -year status of the CPF as that supplement is subject to a change at any time by the State Legislature. While this Committee still had reservations concerning what the out -year status of the CPF is likely to be and is looking forward to more information regarding the specific funding of the purchase (if a deal is reached with the seller), there was agreement within this Committee that it would be appropriate for the CPC to recommend to Town Meeting the full amount of the CPA - eligible portion of the purchase price. Return to Open Session: At 8:47 A.M., it was moved and seconded that the Committee return to Open Session. Each member was polled. Vote: 4 -0 These Minutes were approved by the CEC at its Open- Session meeting on March 13, 2013, but without making the content public as it was still sensitive at that time. In response to a query by Mr. Kanter on April 11, 2013, Carl Valente, Town Manager, advised on April 12, 2013, that the content of these Minutes could then be made public and the CEC did so by submitting these Minutes to the Town's public archives on that same date. Page 2 of 2