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APPROPRIATION COMMITTEE REPORT TO STMI NOVEMBER 2006 Article 4: Community Preservation Fund Funds Requested Funding Source Committee Recommendation $149,000 (i): GF (i): Approve (9 -0) (i) Developer Funds for ($20,000) ($20,000) Approve (9 -0) Historic Preservation Reserve (payment by (ii)(a) & (c): Approve (9— Jefferson Union 0) ($85,000) Realty Trust) (ii)(b): Disapprove (7 -2) + ($44,000) (ii): CPA ($129,000) Backuound At the 2005 Annual Town Meeting, the provisions of the Massachusetts Community Preservation Act (CPA) were accepted and a Community Preservation Committee (CPC) was established. In March of this year, Lexington voters approved the application of a 3% surcharge on their real - estate taxes for the purpose of providing local funding for the four categories of projects under the CPA (Affordable Housing, Open Space, Historic Preservation, and Recreation) and for CPC operating expenses. The CPA tax surcharge is anticipated to raise over $2,300,000 in this fiscal year (FY2007) and in October 2007 the Town will receive matching funds from the State for the amount actually raised in FY2007. (It is anticipated that that match will be at 100 %.) The CPC solicits from the community, including the municipal and school administrations, applications for projects to be funded with CPA funds. Public meetings are held by the CPC to discuss those projects and other activities of the CPC. For those projects it endorses for CPA funds, the CPC then makes "recommendations to Town Meeting for the acquisition, creation, preservation, rehabilitation and restoration of properties and real property interests, as provided in the Act...." (Such CPA - funded projects are in addition to those addressed by the Town's Capital Expenditures Committee for other funding.) Town Meeting can only appropriate CPA funds for projects endorsed by the CPC and presented to Town Meeting; however, Town Meeting can vote to appropriate less than the CPC - requested amount presumably for a reduced project scope and/or by requiring substitute funding. Prior CPA - Funded Projects At the 2006 Annual Town Meeting (April 2006), the CPC proposed, and Town meeting approved, funding for 3 projects ($100,000 for the Fire Station roof, drainage, and apparatus floor, $100,000 for the upgrade and/or replacement of qualified portions of the Dispatch Center, and $60,000 for archives environmental controls) along with $25,000 in administrative costs ($5,000 for a Town -wide mailing & $20,000 for an open -space study which will serve as the basis for future decisions). New CPC - Recommended Actions Relative to CPA Funding The CPC has recommended three projects for approval under this Article. Project Description Amount Requested Funding Source Committee Recommends GF (payment (i) Developer Funds for $20,000 from Jefferson Approve (9 -0) Historic Preservation Reserve Union Realty Trust) As part of a negotiated settlement with the Town for consideration received under the Demolition Delay Bylaw, the Jefferson Union Realty Trust the developer of the Jefferson Union property has paid Page 10 of 15