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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting January 5, 2016 04 Dec 2015, pending final; 08 Dec 2015, #3, Ms. Barnett and Mr. Cole absent; 10 Dec 2015 (Summit III), not numbered, Mr. Cole absent; and 15 Dec 2015, #3, as revised; withthe Chair allowed to make phrasing changesto the 8Dec2015 Minutes, in coordination with Mr. Kanter, that do not affect the points being made. Vote: 5Ã0 for the five Minutes cited in the Motion without any absent member, 4Ã0Ã1 for the four Minutes cited with one member absent, and 3Ã0Ã2 for the one Minutes cited with two members absent. Ms. Hai stated the importance CEC Reporting to the 2016 Annual Town Meeting (ATM): of each member submitting his/her front-section material for what will be this CommitteeÈs th report to that ATM to Mr. Kanter by this January 15. Ms. Manz noted that she is adding a section for the Planning Department. The submitted material will be reviewed at this th CommitteeÈs January 19 meeting. Future Meeting Dates: Mr. Kanter reviewed a list of proposed future dates for both Committee meetings and other critical meetings or events, such as Budget Summits, the 2016 ATM. The Committee agreed to put each of those events on their private calendars. Ms. Hai reminded the Committee that the FY2017 Preliminary Town ManagerÈs Budget & th Financing Plan (the ÅWhite BookÆ) remains scheduled for distribution on January 11. Mr. Kanter noted the two public forums Board of Selectmen had scheduled to discuss the th Center Streetscape Project (January 12) and the East Lexington Massachusetts Avenue th Intersection-Upgrades Project (January 19)Ätwo projects of importance to this Committee. Non-Town-Entity CPA Projects Recommended by the CPC: LexHABÈs Keeler FarmÄAffordable Housing Purchase: Mr. Kennedy reported that the developer of the Keeler Farm property is required to include one affordable- housing unit. To meet that obligation, the developer has offered to sell one unit to LexHABÄwhich would then offer it on a rental basis to qualifying families. LexHAB, through the Planning Department, is requesting Federal funding that is under the control of the WestMetro HOME ConsortiumÄof which Lexington is a memberÄto fully fund this project. If approval is received before the 2016 ATM, the CPC would recommend Indefinite Postponement at that Town Meeting of this request to use the Community Preservation Fund. The agreed upon price is $185,000. Ms. Barnett suggested that the developer is saving money because he will not have to market the unit, and this should be factored into the purchase price; Mr. Kennedy agreed to look into whether this had been considered during negotiations. The Committee agreed that the acquisition of that unit at no more than the present price is advantageous when compared to the costs LexHAB has had to deal with in other recent acquisitions. Page 2 of 3