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3.Homeownership Subsidy Plans – Ms. Manz updated the Committee on a recent meeting of the Housing Partnership. She said the Partnership is working to define a program where homebuyers who cannot make down payments on mortgages or pay closing costs can apply for subsidies from the Housing Partnership and the Town. The Housing Partnership is considering applying for CPA funding. She noted that certain otherwise eligible buyers have been unable to buy affordable homes in Lexington, since State and Federal subsidies were not currently available for particular units. She said there had not been much support for these additional subsidies from the Board of Selectmen. Mr. Kanter expressed his opinion that funding requests for such a subsidy program should first have Town approval before applications are made to the CPC. Ms. Fenollosa inquired about the cost of individual subsidies, to which Ms. Manz replied they were very modest – in the range of $6,000. Ms. Fenollosa suggested that the developers involved might wish to take a second mortgage to cover such costs. 4.Land Acquisition Projects, Timelines and Deadlines – Mr. Wolk spoke to this item on the agenda at the request of the Chair. He explained that the negotiation timeline for a parcel of land was difficult to predict. He estimated that approximately two months is needed to request and receive the two appraisals which will probably become standard practice in future acquisitions. The Committee had a lengthy discussion of the benefits of a time deadline for the receipt of appraisals. Ms. Weiss stated her observation of the past two years, reminding the Committee that the Busa appraisal was received th late afternoon on May 5 2009, and that night the CPC met to vote on the Busa project which was the night before Town Meeting voted on the project th at a Special Town Meeting on May 6. The Cotton Farm appraisal was received mid-March, 2010, and the CPC’s request for a second appraisal was th received April 8, 2010, so the CPC voted on the Cotton Farm on April 26, th and Town Meeting voted two days later on April 28. In both cases, she said the CPC did not have adequate time for proper review of the projects. Ms. st Weiss suggested the date of February 1 as a reasonable deadline for the receipt of all final appraisals. The Committee discussed exceptions to this deadline, and agreed that in extraordinary cases, exceptions would have to be st made. Mr. Adler moved to have the CPC adopt a February 1 deadline for the receipt of all final appraisals. The motion passed 5-3-1, (Mr. McSweeney had previously left the meeting at 3:00 pm.) A letter will be sent to the Conservation Commission, the Board of Selectmen, and the other relevant Boards and Committees to notify them of this new CPC policy. 5.Needs Assessment Report Update – Ms. Manz spoke to this item, stating that she and Ms. Fenollosa had done an initial editing of the report, 2