2024-01-11-HPB-min - Laserfiche WebLink

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Attachments: Liaison Reports Affordable Housing Trust (Margaret Heitz) The Affordable Housing Trust is holding a public information session intended for homeowners and residents who live near the Lowell Street site that is proposed for an affordable housing development. Notices of the meeting are being sent to those households. Members of the Housing Partnership Board are encouraged to attend and listen to the discussion with the project neighbors. Details: Lowell Street Neighborhood meeting, 6:30pm, Tues., 1/16, Lexington Community Center. (Currently, the meeting is in-person only.) The AHT is also preparing a presentation for a warrant article on the topic. Community Preservation Committee (Bob Pressman) In final votes, the CPC approved the following projects for submission to the Annual Town Meeting in March and April 2024. The Community Preservation Act authorizes the Town Meeting to approve, reduce in amount, or reject a proposal received from the CPC. It may not increase the amount. Amounts approved may be drawn upon as of July 1, 2024. ▪ Cary Memorial Library Renovation $2,300,000 ▪ Archives and Records Management $20,000 ▪ Park Improvements Athletic Fields Bowman School $545,000 ▪ Lincoln Park Fitness Station Equipment $160,000 ▪ Park Improvements – Hard Court Surfaces- Valley Rd. $492,000 ▪ Lincoln Park Field Improvements $1,145,000 ▪ LexHAB Support, Restoration, Preservation, and Decarbonization $482,365 ▪ Lex. Housing Authority 561/563 Mass. Ave. Preservation Project $$100,00 ▪ Affordable Housing Trust Pre-funding $3,200,000 ▪ Debt Service $681,000 To – ▪ Administrative Budget $150,000 Notes ▪ [1] additional funding for Library project by levy-side debt $1,700,000 ▪ [2] $40,000 of Fitness Station project may be paid for from Trust Funds ▪ [3] the cost of the artificial turf of the Lincoln Field project is not eligible for CPA funding; it will be covered by levy side funding The Town Manager presented to CPC a proposal for purchasing 2 plus acres of land bordering on LexFarm. While there were negotiations with the owner regarding a price, the Select Board decided against moving forward with a purchase. Important Assuming Town Meeting approval of the community housing amounts, the total in the community housing account in the FY 26 cycle will be about $5,194 carryover balance and $810,000 new cycle funds, $815,194. Given likely Town requests, securing a meaningful amount for housing of the pool of new cycle funds available for all four CPA categories will involve “a battle royal.” In particular, recreation projects are likely to seek a very substantial amount.