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02/20/2020 AC Minutes n) CPA Debt Service: There is a chart in the draft CPC report that identifies the debt service projects. The Town received 25% more in CPA funds from the State than estimated for 2020. It is anticipated that those funds will be used to pay off part of the debt for the center track project. o) Administration Budget: The CPC tries to keep a minimum of$2.0 million in reserve in the Community Preservation Fund (CPF)to maintain flexibility for funding future CPA projects. It is expected that the current budget will leave approximately $5.0 million in the CPF. The potential land acquisition discussed above would require approximately $3.0 million if that purchase were to be approved. Ms. Fenollosa added that all CPC votes on the items discussed above were 7-0, noting that none of them was controversial. After a brief discussion about Lexington's participation in the CPA program and about Article 10, a motion was made and seconded to support all of the Article 10 sub-articles. The motion passed. VOTE: 7-0 Minutes After a brief discussion, a motion was made and seconded to approve the AC Information Meeting Minutes, as distributed by Mr. Levine, for February 5, 2020. The motion passed. VOTE: 7-0 Future Meetings The next AC meeting is scheduled for February 27, 2020. The meeting adjourned at 9:12 p.m. Respectfully submitted, Sara Arnold Approved: March 5, 2020 Exhibits • Agenda, posted by Mr. Parker, Chair • Town of Lexington CPC Draft Report to 2020 Annual Town Meeting and CPF Balances 3