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she had called Ms. Sunnarborg, consultant for the Partnership, and said Ms. Sunnorborg felt an Assistance Program in Lexington would narrow the affordability gap. She noted that applicants still have to come up with 1.5% down payment. After a general discussion of this project and Mr. Batt’s legal opinion of the application, the CPC voted 8-0-1 to forward the project to the CPC Public Hearing to be held the following evening. Ms. Fenollosa abstained from the vote. 6.LexHAB Set Aside Funding for Acquisition of Housing – Co-Chair Mr. Bill Kennedy, Board member Lester Savage, and Senior Town Planner, Aaron Henry met with the CPC to present this application. Mr. Bill Hays had previously familiarized the Committee with the proposal. Mr. Kennedy presented the application for $450,000 in funding to enable LexHAB to acquire affordable housing units with CPA funds in a more expeditious manner. There were a number of questions from the Committee; Ms. Krieger questioned why the amount of $450,000 had been requested, to which Mr. Kennedy responded that it was approximately the cost of one unit. Mr. Wolk asked what would happen to the $450,000 appropriation if a unit were not purchased in FY 2012. Mr. Kennedy said the funds would accumulate in preparation for a future acquisition. Discussion then turned to the CPC guidelines that would be put in place should the CPC and Town Meeting vote positively on the proposal. The Committee concurrred that it would need an agreement with LexHAB regarding the use of the funds, accumulation of funds from year to year, CPC approval of projects, and as Ms. Fenollosa suggested, a possible price range for acquisitions. Mr. Kanter expressed his opinion that such a document would be critical to present at Town Meeting in order give Town Meeting members confidence that LexHAB’s appropriation was properly regulated. Mr. Parker, Chair of the Appropriations Committee commented that his Committee would like to know how funds were spent, and preferred that they not simply accumulate. 7.Needs Assessment Report – Ms. Manz summarized her final comments on the draft, and Ms. Weiss and Ms. Fenollosa noted that they had also made changes. It was decided that Ms. Rice would circulate the draft with the changes showing, so all could see the specific edits. After that draft is accepted and edited for one last time, the Report should be complete. Members noted that there will have to be an upcoming Public Hearing on the Report. 4