2019-10-15-AC-min - Laserfiche WebLink

Browse Search

10/15/2019 AC Minutes • If the Town does not produce a design, the project could be removed from consideration for Mass DOT funding. • The 25% design would not include specifications; it would be a general layout of roads and sidewalks that consider safety, signalization, and operational analyses. • Lexington recognizes the need for transportation options that reduce reliance on the single occupancy vehicle and will continue to work with the 128 Business Council in that effort. • The Request for Proposals for the project would identify check-in points for presentations to the community and would require residential neighborhood and business community input, while developing a feasible option. • The consultant must follow Mass DOT's project manual, and Mass DOT would attend a required public hearing. • Mass DOT would control the project, which would be funded with federal highway funds. Ms. Kowalski agreed to get back to this Committee with the following information: • Whether the 25% design would identify the need for any eminent domain takings. • More detail about the phasing of the 25% design process, particularly as this relates to public participation. • The projected additional funds needed to reach 100% design. • The number of lanes anticipated for Bedford Street. • A list of deliverables to be included in the 25% design. Town Manager's Proposal to the Financial Guidelines Working Group Mr. Parker reported that he and Mr. Nichols had attended one meeting of the working group and that Jim Malloy, Town Manager, would be making a full presentation at tomorrow night's Fiscal Summit. Mr. Parker noted that staff is recommending that the Town continue to "tax to the levy limit", consistent with past practice. Staff is also recommending an aggressive schedule for funding the Capital Stabilization Fund (CSF), which would put pressure on controlling the operating budget. It is expected that the $27.0 million that is currently in the CSF would be used to fund existing debt; additional funds are needed for a future high school. Discussion included, but was not limited to, the following: • The use of free cash to help fund the operating budget: Ms. Kosnoff reported that it is acceptable practice to use free cash for one-time operating costs, but the Town has been using it for recurring operating costs, which is not advised. Mr. Malloy wants to control this going forward. • Contributions to the Other Post-Employment Benefits (OPEB)Fund: Although it is not required that the Town contribute to this liability, Ms. Kosnoff explained that the rating agencies are influenced by how this is handled. The Town has been using the Health Care Trust Fund to make such contributions, but that fund will run out, making it necessary to allocate funds from other sources. It was noted that the OPEB fund gets a higher rate of return than other stabilization funds. • Maintaining reserves: Ms. Kosnoff noted that the Town uses the Government Finance Officers Association's guidelines for maintaining reserves, which she believes is providing reasonable goals for the Town. • Capital Projects: Department heads are being asked to rank their capital projects that are onetime events, such as a new police station. Continuing programs, such as new sidewalks, are not being ranked. 2