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Minutes of the Community Preservation Committee Executive Session Thursday, January 26, 2017 Parker Meeting Room Town Office Building 1625 Massachusetts Avenue 4:30 PM Committee Members Present: Marilyn Fenollosa (Chair), Dick Wolk (Vice-Chair); Norman Cohen, Charles Hornig, David Horton, Robert Pressman, Sandra Shaw, Melinda Walker Absent: Jeanne Krieger Administrative Assistant: Elizabeth Mancini Other Attendees: Carl Valente, Town Manager; Liz Rust, Director- Regional Housing Services Office. Wendy Manz, Capital Expenditures Committee liaison to the CPC was invited to stay for the Executive Session. At 4:35 PM, upon a motion duly made and seconded, it was voted by roll call (8-0) to go into Executive Session under Exemption 6 to consider the purchase, exchange, lease or value of real property and to reconvene in Open Session; the Chair declaring that an Open Meeting might have a detrimental effect on the negotiating position of the Town. 1) Affordable Housing Restriction- Pine Grove/Judge's Way- Mr. Valente and Ms. Rust appeared before the CPC to update the Committee on the affordable housing project that was presented to the Committee at an earlier meeting. Mr. Valente reported that the Board of Selectmen had authorized the Town to spend up to $1 million in order to keep all 16 units at the Pine Grove/Judge's Way development as affordable housing. The affordability restriction placed on 11 of the units is set to expire in 2019. The proposed plan would allow the Town to purchase the deed restriction on 11 units, purchasing five units and perform interior repairs on those acquired units. The five units would then be conveyed to the Lexington Housing Authority. Mr. Valente reported that the Town was close to reaching an agreement with the development's co-op association but differences in legal opinion had stalled negotiations. Mr. Wolk left the executive session at 5:10 PM. The CPC discussed several aspects of the proposal including the Wellesley v. Ardemore decision and how it relates to this proposal. In addition to the update, Mr. Valente and 1