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2021-11-08-AC-STM-rpt
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2021-11-08-AC-STM-rpt
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3/2/2022 3:30:59 PM
Creation date
11/1/2021 11:42:57 AM
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Year
2021
Department
Town Clerk
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Minutes - AC - Appropriation Committee
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2021-1 STM APPROPRIATION COMMITTEE I NOVEMBER 2021 <br /> Warrant Article Analysis and Recommendations <br /> Article 2 <br /> Appropriate for Prior Years' Unpaid Bills <br /> Funds Requested Funding Source Committee Recommendation <br /> None N/A IP <br /> As of this report's publication,the Town was not aware of any unpaid bills from prior years. <br /> The Committee supports indefinite postponement. <br /> Article 3 <br /> Establish, Dissolve and Appropriate To and From Specified <br /> Stabilization Funds <br /> Funds Requested Funding Source Committee Recommendation <br /> TDM/PT SF $200,000 <br /> Capital SF $570,300 GF Approve (8-0) <br /> This article requests the appropriation of funds into the Transportation Demand Management/Public Trans- <br /> portation Stabilization Fund(TDM/PT) Stabilization Fund (SF) and the Capital SF. <br /> Transportation Demand Management/Public Transportation SF <br /> From time to time, a developer seeking a zoning change will sign a memorandum of understanding(MoU) <br /> with the Town that requires one-time or recurring contributions to the Town to be used in ways that reduce <br /> automobile trips by their employees or customers. <br /> In the past, these funds were accumulated in a special revenue fund, and Town Meeting was routinely <br /> required to appropriate them into the Transportation Demand Management/Public Transportation Stabili- <br /> zation Fund. At the 2020-3 Special Town Meeting, Town Meeting voted under Article 3 to allow funds <br /> received under certain agreements to be deposited directly into the TDM/PT SF without appropriation. <br /> Payments have been received from Takeda Pharmaceuticals ($124,113), Avalon at Lexington Hills <br /> ($46,286), Watertown Savings Bank ($8,674), and Lexington Place ($4,775) for a total of$183,848. Per <br /> the previous vote of Town Meeting,these funds were transferred directly into the TDM/PT SF. The current <br /> balance (late October 202 1)in the TDM/PT SF is $891,846,which includes the payments listed here. <br /> In addition,the Town recently received a$200,000 grant from the Massachusetts Department of Transpor- <br /> tation (Mass DOT) to support public transportation. The grant is being applied to the FY2022 Lexpress <br /> budget(see Article 4, below). In keeping with the spirit of the grant,this article requests an appropriation <br /> of the$200,000 in tax levy funds freed up from the Lexpress budget into the TDM/PT SF to help fund other <br /> town transportation needs. <br /> Capital SF <br /> The Capital SF was established as a repository of funds to supplement debt service payments on future <br /> capital projects.Two major capital projects,namely the replacement of the Police Station and the renovation <br /> or replacement of Lexington High School, are on the horizon. Construction of the Police Station is likely <br /> 3 <br />
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