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APPROPRIATION COMMITTEE SPECIAL TOWN MEETINGS 2017-2&3 OCTOBER 10,2017 Article 2017-3.12: Appropriate Community Preservation Act Projects Funds Requested Funding Source Committee Recommendation Affordable Housing CPF Housing: IP TBD (land purchase) Land: Pending A motion may be brought under this article seeking the appropriation of Community Preservation Act (CPA) funds for the purchase of a small parcel of open space bordering the Chiesa Farm conservation land on Adams Street. As of press time,we understand that a separate request by LexHAB to appropriate addi- tional CPA funds for its affordable housing project on Lowell Street will be indefinitely postponed, with the expectation of bringing it back to the Annual Town Meeting next spring. Land Purchase The Community Preservation Committee has recently been presented with a proposal to acquire for open space purposes a parcel at 44 Adams Street,consisting of approximately 30,000 square feet of land,adjacent to the Town-owned Chiesa Farm conservation land. This lot was purchased in 2017 by a developer who razed the existing house with plans to build a large new house on the property. The builder has agreed to delay the project to allow the Town to consider whether to purchase the land for open space. The purchase would expand the Town-owned conservation land at Chiesa Farm and preserve open space in Lexington consistent with the 2015 Open Space Plan Update. If the matter proceeds, funding would be requested for the costs of purchase, legal expenses, a land survey and plan, deed,and$5,000 in monitoring funds for Citizens for Lexington Conservation,which would hold and enforce the CPA-required conservation restriction. There is currently no definitive estimate of the purchase cost, but it is expected that the price would have to cover the developer's acquisition cost(around$850,000)plus the sunk cost of demolition of the existing structure plus some or all of the developer's anticipated profit. At the time of publication of this report, the CPC had not yet voted whether to approve this project and it is not yet known whether it will go forward. The Committee's recommendation on this part of this article is pending. Article 2017-3.13: Appropriate for Authorized Capital Improvements Funds Requested Funding Source Committee Recommendation IP A motion to indefinitely postpone this article is expected. 22