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Mr. Wolk and Ms. Mullins also noted that there will be additional costs, such as a 21E investigation (for hazardous wastes) and attorney fees. 2.LexHAB Purchase of Three Properties, Ross Road – Ms. Weiss reported that she had spoken with Mr. Hays, Chariman of LexHAB, and that the property at 11 Ross Road was looking less attractive for purchase. Apparently the pipes in the building have burst, and this occurance, in addition to its existing title difficulties may mean LexHAB will withdraw it from its CPC proposal. Ms. Weiss reported that LexHAB is already considering another property in the same price range, and questioned whether the Committee should accept an alternate property this late in the review process. The Committee discussed this problem, and questioned whether Town Counsel had to review the matter, but generally felt a new property could be substituted as long as it was in the same general price range. The Committee agreed that they should know the cost of the new property, and that th the revised project should be presented at the upcoming March 26 hearing. 3.Discussion of Bonding, Mr. Rob Addelson, Finance Director – The Committee had invited Mr. Addelson to come speak about the various options regarding bonding, in light of the upcoming Leary acquisition. Mr. Addelson presented a spreadsheet showing various options, including 5, 10, 15 and 20 year bonding scenarios. His spreadsheet also included the present balances in the various “buckets” and in the undesignated reserve. The Committee discussed the pros and cons of bonding the 2M+ Leary purchase. There is clearly enough money in the existing Conservation “bucket”, unbudgeted reserve and undesignated fund balance to pay for the acquisition, but given the high costs of certain upcoming projects, the Committee questioned whether it would be prudent to take the acquisition cost out of these funds. Mr. Addelson stated that the benefit to bonding is that it preserves the Committee’s flexibility to recommend funding for subsequent projects. Mr. Cohen suggested that the Busa property might be one such project. 4.Updates – (1) Ms. Weiss informed the Committee that there will be a summit th meeting on the Stone Building. The date for the meeting is March 19, with the time yet to be determined. (2) She also asked Ms.Manz if she would write letters of thanks to the local representatives who signed on to sponsor the “Act to Sustain Community Preservation”. (3) It was decided to hold a brief CPC meeting for the th LexHAB proposal on March 12 at 7:00 pm, immediately before the TMMA meeting. The meeting was adjourned at 6:00 pm. Respectfully submitted, Nathalie Rice Administrative Assistant Community Preservation Committee 3