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Minutes of the Community Preservation Committee Executive Session Thursday, November 7, 2019 Hudson Room Cary Memorial Building 1605 Massachusetts Avenue 4:00 PM Committee Members Present: Marilyn Fenollosa (Chair); Charles Hornig (Vice-Chair), David Horton,Jeanne Krieger, Joe Pato, Bob Pressman, Melinda Walker. Administrative Assistant: Gina Federico Other Attendees: Wendy Manz, Capital Expenditures Committee liaison to the CPC; Carolyn Kosnoff, Assistant Town Manager for Finance; Alex Dohan, Conservation Commission, Phil Hamilton, Chair, Conservation Commission; David Langseth, Vice Chair, Conservation Commission; Karen Mullins, Conservation Administrator. Absent: Lisah Rhodes, Dick Wolk. Ms. Fenollosa called the public meeting to order at 4:04 PM, and at 5:54 PM, upon a motion duly made and seconded, it was voted by roll call (7-0) to go into Executive Session under Exemption 6 to consider the purchase, exchange, lease or value of real property and to reconvene in Open Session; the Chair declaring that an Open Meeting might have a detrimental effect on the negotiating position of the Town. Executive Session under Exemption 6 Mr. Hamilton updated the Committee on 39 Highland Ave., a five acre parcel of land with a farmhouse. Mr. Hamilton explained that the Conservation Commission offered the owners $3,862,500 for the parcel which was the average of two appraisals. The owners seem motivated to sell but they have yet to sign a notice of intent. Town Counsel has advised that the owner's lawyers are trying to negotiate more money based on a private appraisal of$4.5 million that they have not shared with the Town. Ms. Mullins has noted that developers are interested in the property and the owners have been approached. Ms. Fenollosa asked if the Town has a right of first refusal. Ms. Mullins said no. Ms. Walker asked if the FY21 request is a placeholder. Mr. Hamilton said yes. Mr. Hornig noted that the property is in tax title according to the Registry of Deeds. Mr. Pressman explained that after a preliminary analysis of the site LexHAB has estimated that rehabilitation of the house for affordable housing could exceed $1 million. Ms. Walker asked if LexHAB was not interested in the project would that change the purchase price. Mr. Hamilton explained that if LexHAB was 1