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10/16/2017 AC Minutes Minutes Town of Lexington Appropriation Committee (AC) October 16, 2017 Place and Time: Ellen Stone Room, Cary Memorial Building, 6:30 p.m. Members Present: John Bartenstein, Chair; Alan Levine, Vice-Chair& Secretary; Ellen Basch; Eric Michelson; Richard Neumeier; Sanjay Padaki; Andrei Radulescu-Banu; Lily Manhua Yan; Jian Helen Yang; Carolyn Kosnoff, Assistant Town Manager, Finance (non-voting, ex-officio) Member(s)Absent: None Other Attendees: None The meeting was called to order at 6:35 p.m. 1. Announcements and Liaison Reports Mr. Bartenstein reviewed logistics for the Special Town Meeting (STM) 2017-2 & -3 including the speaking assignments for the articles. 2. Finalizing Positions on STM 2017-3 Articles • Article 12: Appropriate Community Preservation Act Projects: Purchase of 44 Adams Street: Mr. Bartenstein reported that the Board of Selectmen (BoS) had not taken a position on the Adams Street purchase; it is on the agenda for tomorrow's 5:00 p.m. BoS meeting. At a meeting of the Community Preservation Committee (CPC)last Thursday, it was noted that the original appraisal of the property did not take into account a conservation restriction that exists on part of the property, and a CPC motion to support the purchase for $875,000 failed. A second motion to approve $675,000 passed the CPC by a vote of 6-2-1. Both amounts included $25,000 for legal expenses. Using $275,000 of the Open Space Community Preservation Act(CPA)funds for the purchase would bring that CPA funding component to $0 until new funds are received from the State. The additional $400,000 could come from the CPA's Unbudgeted Reserve component. It was agreed to revisit this article after the BoS has taken a position. • Article 5: Amend FY2018 Operating and Enterprise Funds: Ms. Kosnoff reported that the motion for this article would include a request for an additional $4,300 for Water Enterprise Fund debt service as the result of a review of debt schedules following the Annual Town Meeting. • Article 6: Establish and Appropriate To and From Specified Stabilization Funds: Ms. Kosnoff verified that this Committee's report reported the correct amounts for these funds. It was noted that although Article 2: Amend Zoning By-Law—45, 55, 65 Hayden Ave. (Owner Petition) could have an impact on the tax base, this Committee does not generally comment on zoning articles. 1