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CAPITAL EXPENDITURES COMMITTEE REPORT TO 2019-1 STM <br /> 2019-1 STM Warrant-Article Explanations and <br /> Recommendations <br /> Cites of the "Town Warrant"refer to the 7 Oct 2019 "Town of Lexington Warrant for the <br /> Special Town Meeting 2019-1", November 12, 2019. <br /> Article 3:Appropriate To and Funding Committee <br /> From Specified Funds Requested Source Recommends <br /> Stabilization Funds (SFs) <br /> (Only those actions related to (b)Traffic Mitigation SF <br /> Capital) Payment from <br /> Deposit$280,000 King Street Approval(6-0) <br /> Properties <br /> (g) Transportation Management Overlay District SF <br /> Information Only.Action will take place under Article 8. <br /> Withdraw$250,000 SF N/A <br /> (h) Capital SF <br /> Deposit$732,697 Increase to FY2020 Approval(6-0) <br /> Revenue <br /> "To see if the Town will vote to appropriate sums of money to and from Stabilization Funds in <br /> accordance with Section 5B of Chapter 40 of the Massachusetts General Laws for the purposes of: (a) <br /> Section 135 Zoning By-Law, (b) Traffic Mitigation, (c) Transportation Demand Management/Public <br /> Transportation, (d) Special Education, (e) Center Improvement District, (f) Debt Service, (g) <br /> Transportation Management Overlay District, (h) Capital, (i) Payment in Lieu of Parking, (j) Visitor <br /> Center Capital Stabilization Fund, (k) Affordable Housing Capital Stabilization Fund, (1) Water System <br /> Capital Stabilization Fund, and (m)Ambulance Stabilization Fund; determine whether such sums shall be <br /> provided by the tax levy, by transfer from available funds, from fees, charges or gifts or by any <br /> combination of these methods; or act in any other manner in relation thereto. <br /> "DESCRIPTION: This Article proposes to fund Stabilization Funds for specific purposes and to <br /> appropriate funds there from. Money in those funds may be invested and the interest may then <br /> become a part of the particular fund. These funds may later be appropriated for the specific <br /> designated purpose, by a two-thirds vote of an Annual or Special Town Meeting, for any lawful <br /> purpose." <br /> (Town Warrant) <br /> For all Stabilization Funds (SFs), deposits (additions) are approved by a simple majority vote of Town <br /> Meeting. <br /> General Information Regarding the Traffic Mitigation SF: Additions are generally payments by <br /> developers as a condition of a Special Permit; withdrawals are for the purpose of financing <br /> traffic—mitigation projects. <br /> General Information Regarding the Transportation Management Overlay District SF: Additions are <br /> generally payments by developers as a condition of a project in that District; withdrawals are for the <br /> purpose of financing transporation infrastructure improvements. <br /> General Information Regarding the CSF: Available cash would be added to the CSF with the intent that, <br /> as has been done in the past, the CSF will have continuing withdrawals to mitigate the tax burden of <br /> major capital projects. The withdrawals are expected to be amounts cited for appropriation under the <br /> Operating Budget toward debt service; to be an additional source, to the extent funds remain in the CSF, <br /> 1 <br />