2008-11-17-SPTM-AC-rpt - Laserfiche WebLink

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APPROPRIATION COMMITTEE REPORT, NOVEMBER 17, 2008 STM ATM change STM % change e ui ment & installation 75,000 10,361 85,361 13.8% site prep 11,000 -6,800 4,200 -61.8% fencing 4,000 6,400 10,400 160.0% sidewalk 0 7,174 7,174 unbudgeted site services 5,000 13,000 18,000 260.0% contingency 0 5,000 5,000 unbudgeted total $95,000 $35,135 $130,135 37.0% It appears that the request fora $75,000 appropriation last spring at the Annual Town Meeting was based on an underdeveloped cost estimate. Regardless of the reasons, inaccurate cost estimates often lead to later problems in carrying out capital projects. In response to this situation, both the CPC and the Public Facilities Department have raised their standards of documentation required to move forward in the future. We urge all involved parties to invest sufficient time and research in order to develop realistic cost estimates prior to submitting such projects to Town Meeting for its approval. Such efforts are essential to protect the integrity and viability of the CPA program and the entire capital investment program of the Town. The Committee unanimously supports this article. Article 7; Appropriate to Funds Funding Committee S ecified Stabilization p Requested Source Recommendation Funds a) $216,750.11 MF Approve (9-0) b) $25,000 MF At the 2007 Annual Town Meeting, four specified stabilization funds were established to replace certain pre-existing special revenue accounts. Monies in the special revenue accounts, funded by negotiated payments from developers, had previously been spent without appropriation. In order to comply with Massachusetts Department of Revenue guidelines, and to make the existence and use of the funds more transparent, the negotiated payments in question are now subject to appropriation, by atwo-thirds vote of Town Meeting, into and out of the following specified stabilization funds: • Transportation Demand Mana~ement/Public Transportation (TDM/PTl Stabilization Fund. Contains payments negotiated with developers to support the operations of Lexpress. • Traffic Mitigation (TM) Stabilization Fund. Contains payments negotiated with developers to support traffic mitigation projects, such as improvements to signals and pedestrian access at intersections, including funds previously contained in the Avalon Bay TDM special revenue account. • School Bus Transportation Stabilization Fund. Supports daily school bus operations, and was originally funded with $200,000 contained in the Avalon Bay School Bus Transportation special revenue account. • Section 135 Zoning By-Law Stabilization Fund. Created to finance public improvements using monies contributed by developers pursuant to Section 135 of the Code of Lexington. Page 9 of 15