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CAPITAL EXPENDITURES COMMITTEE REPORT TO 2011 ATM damage to the building and equipment, or delay in department response to an incident. This is a proactive measure to prevent further damage or interference with department operations. The project will be implemented in two phases. The first phase will be to develop a design that enlarges the door openings in a manner consistent with the historic character of the building and the second phase will be the implementation of the approved modifications." [Brown Book, Page XI-12]. • • • Project Description(CPA Category) Amount Funding Committee Recommends Requested Source (c) Leary Property Planning Funds Housing) $30,000 CPF (Cash) Disapproval(5-0) (Community "The Ad Hoc Leary Property Community Housing Task Force has recommended to the Board of Selectmen that $30,000 be requested to prepare an affordable housing development proposal for the site at 116 Vine Street. Approval of these funds would enable the Task Force to continue public outreach and pre-development activities such as architectural and engineering work, production of plans and specifications, and program development. The Task Force expects to explore a range of construction funding, including a future application for CPA funds, but the Task Force needs to define its program prior to applying for affordable housing production grants from the State. Ultimately the group envisions that a local non-profit developer will handle the long-term operation and maintenance of the property, and that revenues generated by the property will be sufficient to sustain the project without needing infusions of new capital." [Brown Book, Page XI-16]. Lexington has long relied upon the Lexington Housing Assistance Board (LexHAB), under the authority of the Board of Selectmen (BoS), to provide for, and manage, the Town's affordable housing stock. Before looking elsewhere through the means of a development proposal or Request for Information (RFI) requiring this additional funding it needs to be made clear why LexHAB cannot be the developer of the housing on the Town-owned land that was the Leary Property and pursue the RFI with the advice and counsel of the Task Force which would obviate the need for this funding as LexHAB should cover any such costs from within its own assets. (At the BoS' meeting on March 14, 2011, it was stated that LexHAB has already committed to funding $10,000 toward the on-going effort to define what should be the housing recommended for this parcel of land and LexHAB representatives said they were willing and able to be the lead on the development.) We recognize that the Task Force provides advice to the BoS and that LexHAB must obtain that Board's approval before it can execute any production of housing; therefore, in the end, it is the BoS which will judge the merits of whatever development proposal is fashioned, regardless by whom. Therefore, in absence of a proposal for production of affordable housing on that Town-owned land by LexHAB and leaving to LexHAB with the advice and counsel of the Trask Force to issue any Request for Information, this Committee recommends disapproval of this sub-element even if the dollar amount were lower than the current request. • • • Project Description(CPA Category) Amount Funding Committee Recommends Requested Source LexHAB Set-Aside for HousingApproval as (d) $450,000 CPF (Cash) conditioned below Acquisition(CommunityHousing) (5-0) "LexHAB is requesting `up-front' funds from the CPA fund in order to purchase affordable housing units in a cost-effective manner. To date, LexHAB purchases a unit, applies to the CPC for funding, and then must wait until July 1 until funds become available. This delay results in the necessity for two closings, duplicative legal fees, lost rental income, and unnecessary payment of interest costs. Providing LexHAB with funds prior to purchase saves LexHAB and the Town considerable money and staff time. The funds for this article to support community housing would be held by the Town, and bills would be submitted 32