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9/30/15AC Minutes A funding requestfor purchasing and renovating theArmenian Sisters' Academyon Pelham Roadin Lexington to accommodate elementary public school students. A required second access road would most likely be through the Lexington Community Center site. Target dates associated with preparing the STMreports were identified: th October 5: The BoS expect to finalize the two warrants. The motions will not be available until later. th October 7: John Livsey, Town Engineer, and Fire Chief John Wilson will be invited to this Committee’s meeting. th October 14: Mr. Addelson will provide preliminary financial impact analyses; these will be subject to change, but changes should be relatively minor. thth October 15-26: Mr. Parker is traveling; Ms. Masterman has agreed to play the lead role in nd preparing the report for the November 2STM. ndnd October 22: This Committee approves its report for the November 2STM thnd October 26: This Committee publishesits report for the November 2STM. thnd November 19: This Committee approves its report for the December 2STM. rdnd November 23: This Committee publishesits report for theDecember 2STM. Mr. Parker agreed to create a spreadsheet with proposed committee member assignments for the various sections of the reports. Background material for some sections of the report can be started now. It was noted that there are also two Budget Summits scheduled in preparation for the spring thth 2016 Annual Town Meeting: October 8and November 12. Discussion included the following commentsand answers to questions: Town Meeting needs to receive a broad review of the financial impacts on taxpayers of the various school projects, including the high school heating, ventilation, air conditioning needs, coupled with the town requirements, including a new fire station and police station. Anyfinancingfor various school and town facilities thatdoesn’t come from excluded debt would impactthe capital stabilization fund, regularly scheduled capital projects,and/or services. The impact of seeking 30 year bonds versus20 year bondsis being reviewed. A previous analysis involving most of the projects being contemplated indicated that the impact on the taxpayer in 2021 would increase to levels of concern. Opening another school, such asonPelham Road,would impact the operating budget; those impactsneed to be identified and understood. The Lexington Community Center does not add appreciably to the operating costs in the near future. Lexington should know in Decemberwhether the MSBA approves the renovation/rebuilding of Hasting Elementary School; it is expected that the Town would save $20-30 million with MSBA assistance. Minutes: 3.Some minor edits were recommended for the Open and Executive Session Minutes for September 9, 2015. A motion was made and seconded to approve this Committee’s Open Sessionand Executive 2