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10/6/2022 AC Minutes <br />4 <br />The Town is hoping to fund Article 11, Center Streetscape Sidewalk Extensions, with cash. <br />However, if available new growth revenue is not sufficient, the balance would be financed with <br />debt. <br />Ms. Kosnoff reported that additional OPEB funding under Article 7 would be indefinitely <br />postponed. The administration wants to prioritize appropriations into the Retirement Fund <br />(pensions), as the latest actuarial calculations have indicated that the Retirement Fund’s full funding <br />date has been extended. The major factor in this is the assumption of a lower and more realistic rate <br />of returns on investments. The assumed rate was dropped 0.25%, and it’s possible that the next <br />evaluation will drop that rate another 0.5%. <br />Ms. Kosnoff reported that there is an ongoing discussion within the Town administration on how to <br />best use the additional $1,000,000 of new growth that will come from Takeda’s decision to not seek <br />a manufacturing exemption for its personal property in Lexington. <br />Adjourn <br />The meeting was adjourned by roll call vote at 9:42 p.m. <br />Respectfully submitted, <br />Eric Michelson <br />Approved: November 1, 2022 <br /> <br />Exhibits <br />● Agenda, posted by Mr. Parker <br />● Mr. Michelson’s questions to Ms. Morrison <br />