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<br />Meeting. The supplemental funding would enable the Historical Commission <br />to leverage the CPA funds and apply for a grant of $15,000. The grant would <br />be used to continue the survey of historic neighborhoods in Lexington, <br />particularly mid-century “modern” neighborhoods. These neighborhoods <br />would then be listed on the National Register of Historic Places, with the <br />owners’ permission. There were no questions on this project. <br /> <br /> <br /> <br />21.Land Acquisition - <br /> This project was passed over pending further <br />information. <br /> <br /> <br /> <br />22.Cotton Farm Land Acquistion <br /> - This project was passed over pending <br />further information. <br /> <br /> <br /> <br />23.Busa Debt Service <br /> - Ms. Weiss spoke to the issue of the debt service for the <br />Busa property, for which CPA funds were appropriated at the Special Town <br />Meeting in May 2009. She explained that with the help of Mr. Rob Addelson, <br />the Assistant Town Manager of Finance, the CPC had decided to front end <br />load the Busa debt payment for FY11, resulting in an approximate payment <br />of $2.7 million. The discussion of the debt service prompted a larger <br />discussion of the CPC budget, in which Mr. Pagett questioned the number of <br />projects and their total cost. He suggested that just because projects are <br />“legal”, or have been approved by Town Counsel, they should not <br />automatically be approved by the CPC. Mr. Sandy echoed this sentiment, <br />asking what the annual CPA revenue was, and suggested that approving $5.7 <br />million in FY11 exceeded the CPA FY11 revenue of $4.0 million. Ms. Weiss <br />explained that the CPC had reserves from the two previous years, and would <br />not “overspend” its budget in FY11. <br /> <br /> <br /> <br />24.Administrative Budget <br /> - Ms. Weiss stated that the Administrative budget <br />for the CPC was $150,000, which included $50,000 in land planning fees <br />reserved for the land acquisition, funds for legal fees, and funds for the salary <br />of the part-time Administrative Assistant. There were no questions about the <br />CPC budget. <br /> <br /> <br />The Public Hearing was adjourned at 8:35 pm. <br /> <br />Respectfully submitted, <br /> <br />Nathalie Rice <br />Administrative Assistant <br /> <br />Community Preservation Committee <br />7 <br /> <br />