2019-03-25-AC-ATM-rpt - Laserfiche WebLink

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APPROPRIATION COMMITTEE-2019 ATM Status of Funds and Appropriation Requests The current balance of each fund, the amount recommended for appropriation into each fund(if any), and the amounts proposed to be withdrawn from each fund(if any),are as follows.Bold cells in the table below indicate relevance to this article's request. All deposits into specified stabilization funds (SFs) are covered under this article (3rd column). Withdrawals from these funds (4th column) are covered under the listed articles (5t''column). Amount Warrant Specified Stabilization Fund Balance 1 of Deposited Amount Article for 3/15/2019 under Art.22 Withdrawn Withdrawal Transportation Demand Management SF $181,379 - $141,000 11 Traffic Mitigation SF $354,948 - - Special Education SF $1,120,867 - - Capital SF $27,492,341 $1,536,759 $5,200,000 22 Center Improvement District SF $35,190 $1,526 $27,000 11 Transportation Management Overlay $342,445 - - District SF Debt Service SF $549,506 - $124,057 24 Section 135 Zoning SF $0 - - Visitor's Center Capital SF $108,180 - - Water System Capital SF $31,868 - - Affordable Housing Capital SF $0 - - This article proposes to appropriate $141,000 from the Transportation Demand Management SF to finance the Lexpress bus service as well as the Town's contribution to the REV Shuttle. The fund was initially created to support the Lexpress bus service and the 2016 Annual Town Meeting extended the purpose of this fund to "supporting the planning and operations of transportation services to serve the needs of town residents and businesses." This article proposes to appropriate $1,536,759 of Free Cash into the Capital SF. This fund was created for the purpose of setting aside funds to finance future capital projects of the Town. The article also proposes to appropriate $5,200,000 out of this fund to mitigate the impact of excluded debt service for recently approved projects. This article proposes to appropriate $1,526 of profit-sharing revenue from Bike Share pilot with Zagster Inc. into the Center Improvement District SF. As of publication the Town has received a mitigation payment from King St.Properties for 75 Hayden Ave in the amount of$560,690. It is expected that this amount will be divided between the Traffic Mitigation SF and the Transportation Demand Management/Public Transportation SF either at the 2019 Annual Town Meeting or a subsequent Special Town Meeting in the fall of 2019. Any additional payments received prior to the vote on this article will be deposited into special revenue accounts. If necessary, the motion will be updated to include additional transfers into the specified stabili- zation funds. The Committee recommends approval of this request(9-0). 43