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tenants from winter difficulties and summer burdens and they are good for LexHAB). The cost was $832,000 for all three units plus $60,000 paid in financing to date. A major portion - $652,800 - has been financed through Patriot Bank. LexHAB provided $179,260 and this amount is not part of the funds LexHAB is requesting from the CPC. They are requesting funds with which to pay Patriot Bank. LexHAB is working with the Planning Department to apply for HOME funding, so that these units will qualify for the Lexington Subsidized Housing Inventory with reference to 40B. Questions: 1. Alan Levine, TMM, Precinct 8 and Chair of the Appropriations Committee, noted that LexHAB holds the mortgage on these properties. He asked what the consequences would be of having this money paid to Patriot Bank. Bill spoke of Katahdin Woods and stated that with LexHAB holding the mortgage, they have fewer resources to purchase units in Katahdin Woods, when the deed restrictions that keep them affordable start to expire. 2. David Kanter, Capital Expenditures Committee, made a comment about principal only. 3. Unknown Person asked why not keep the mortgage and asked about the current interest rate. At this point, Gloria Bloom, TMM, Precinct 4 asked about the number of properties that qualify under CPC. The Stone Building, Monroe, White House and Harrington were mentioned. She asked why isn’t the Town proactively looking at it all, in total, and coming forward with a comprehensive plan? If the CPC is subsidized by 50%, Gloria’s opinion is that the Town should be more pro- active. Richard Pagett commented that he shared the concern as a former Selectman but at this point, the CPC was a responding body to proposals submitted to it. Richard also stated that the CPC has approximately $10M to bring forward to Town Meeting this spring and they will not run out of money quite yet. Marilyn Fenollosa also noted that the Town Manager polled all town departments to solicit needs and that they work in partnership. David Kanter suggested a routine fall Town Meeting. 8. Housing Specialist Position (Planning Department) $19,500 – presented by Maryann McCall-Taylor Maryann McCall-Taylor, Planning Director, explained her proposal, which is to request funding for a Housing Specialist position for the Town. She is seeking a part-time position at 15 hours/week. It would be a new position that complements the work done by the Planning Department. Funding this position would forward the Affordable Housing agenda, the 2020 process and last year’s Town Meeting priorities with programs acceptable to the Town. It was noted by Maryann that use of CPC money to fund a Housing Specialist position is under review by Legal Counsel to determine whether or not the position is an eligible expense. Having said this, Maryann also noted that she has applied for a part-time Housing Specialist position through the Town’s budget planning process. Questions: 1. Gloria Bloom, TMM, Precinct 4, asked if the person in this position would be seeking grants. 2. Dawn McKenna, TMM, Precinct 6, questioned if this position is legally an appropriate expenditure. She stated that she is of the mindset that position funding belongs in the Town’s operating budget. Public Meeting 12.6.07 Minutes – FINAL 1.16.08 6