HomeMy WebLinkAbout2014-03-31-ATM-STM-CEC-rpt (Updates & Errata 03-31-14)
UPDATES & ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM & STM
CEC
APITALXPENDITURESOMMITTEE
TL
OWN OF EXINGTON
UPDATES & ERRATA TO THE REPORT TO THE
2014 ANNUAL TOWN MEETING (ATM)
&
2014 SPECIAL TOWN MEETING, March 24, 2014 (STM)
(Released March 17, 2014)
Released March 31, 2014
Submitted by:
Jill I. Hai, Chair
David G. Kanter, Vice-Chair
Bill Hurley
Wendy Manz
Beth Masterman
Starts on reverse
UPATES & ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM & STM
This publication provides updates and two corrections to the Committee’s report. The updates
reflect the changes and omissions that have come to the Committee’s attention since the report was
published, up to the date of this publication, of what is expected to be presented to the 2014 ATM;
and, in the case of the changes on Page 35, to correct a date error and a name error that were
brought to our attention. (If an update is material to the Committee’s position as verbally presented
to the Meeting, the change from the original report will be identified at that time.)
Page 3:
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a. Public Facilities Department, 3 line item (for 8(a)):
“(To be Indefinitely
(1) After “39 Marrett Road Community Center Sidewalk”, add
Postponed)
”, and
(2) In both the CPA and Total columns, delete the “$100,000”.
b. In the bottom Totals, reduce both of the amounts in the CPA and Total columns by $100,000.
c. In footnote #1, change the “$246,194.46±” to $246,193”.
Page 5, The Projects Agenda: After “Traffic Mitigation”, add as another entry:
“Muzzey Senior Center, 1475 Massachusetts Avenue (a unit within the Muzzey High
Condominium building). When that Center’s operations move to the new Community Center, a
decision is expected to be made about what, if any, future use the Town has for that Town-owned
property. As there is currently no commitment to retaining the property, it is not being shown in
this Committee’s Five-Year Capital Plan.”
Page 14:
th
a. 11 entry (Community Center Sidewalk Construction), move the $100,000 amount from the
FY2015 Request column to the FY2016 Plan column.
b. Subtotal—Public Works (note TBDs): Decrease the FY2015 Request amount by $100,000
and increase the FY2016 Plan amount by $100,000.
Page 15, Totals (No Allowance for TBDs): Decrease the FY2015 Request amount by $100,000 and
increase the FY2016 Plan amount by $100,000.
Page18, last paragraph before Fire, lines 3 & 4: Delete from “Funding” to the end of the paragraph.
Page 35:
stth
a. 1 subparagraph (beginning “The 14.2-acres Leary property”), 4 line: Change “In 2008,
Town Meeting” to “In 2011, the Annual Town Meeting”.
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b. 2 subparagraph (beginning "The 7.93-acres Busa Farm"), 3 line: Change "Busa Farm
Coalition" to "Lexington Community Farm Coalition, Inc.,”.
Page 39, Article 8 header box: Change Funds Request from “$4,271,466” to “$4,171,466”, and in
Funding Source, change “$3,663,190” to “$3,563,190”.
Page 40, Article 8(a):
a. Header box: Append to the Description “(Historic Resources)”, change both Amount
Requested and Funding Source to “N/A” and Committee Recommends to “Indefinite
Postponement (5-0)”.
b. Replace the text beginning “This will be” in its entirety with:
“This was to be sidewalk construction, as needed, so there would be sidewalk access from
Marrett Road to the Community Center; however, a proposed design which entailed an easement
from the neighboring Scottish Rite of Freemasons was not acceptable to that organization. At this
time, the Town’s Engineering Department is looking into an alternate design or routing of the
sidewalk, but none is ready for presentation to this Town Meeting.”
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UPATES & ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM & STM
Pages 40 & 41, Articles 8(b)–(e): In the header boxes, append to the Description “(Historic Resources)”.
Page 42, Articles 8(f) & (g): In the header boxes, append to the Description “(Community Housing)”.
Page 43, Articles 8(i)–(l): In the header boxes, append to the Description “(Recreation)”.
nd
Page 58, Article 14(i), the table, 2 line: In the Original Debt Authority, change “13” to “13(e)”.
Page 59, Article16:
a. Header box: Change the Amount for Rescission from “$323,830.78” to “$318,673”.
b. In the paragraph beginning “At the time of this report”, replace the table in its entirely with:
ReasonOriginal AppropriationDescriptionsAmount
Unneeded at Project Completion
2010 ATM Article 13(b)Rehabilitating Standpipes$20,000.00
2011 ATM Article 14Street Betterment—Frances Road$33,000.00
2012 ATM Article 11(d)Park Improvements—Athletic Fields$7,173.00
2012 ATM Article 12(e)DPW Equipment$12,307.00
Subtotal$72,480.00
Replaced by Premium on Bonds2011 STM (Nov 14) Article 2Bridge/Bowman Reconstruction$98,378.00
†
Sold on February 5, 20142012 STM (Apr 2) Article 3Estabrook School Construction$147,815.00
Subtotal$246,193.00
Total$318,673.00
†
See Article 22 for where these amounts are appropriated as a supplement to the original appropriations; thereby, there is no
change to the total funding authority for each project.
Page 60, Article 17:
a. Header box: Replace in its entirety with:
Funding
Article 17: Establish and
FundsCommittee
RequestedRecommends
Appropriate To and From
Source
Specified Stabilization
Capital Projects/Debt Service Reserve/Building Renewal SF
Funds (SFs)
Capital Projects/Debt
Withdraw
Service Reserve/Building
$950,000;
Renewal SF
Approval (5–0)
Deposit
$2,974,417 GF (Cash) +
$6,160,726
$3,186,309 GF (Free Cash)
Traffic Mitigation SF
Deposit Traffic Mitigation Special
Approval (5–0)
$40,000Revenue Account
b. Starting with the paragraph beginning “The only one”, replace it and the rest of the text for
this Article with:
\[Begin replacement text\]
The only two of the funds identified in the Warrant under this Article with capital implications and for
which actions are contemplated at this Annual Town Meeting are as follows:
a. The Capital Projects/Debt Service Reserve/Building Renewal SF—whose balance as of
February 28, 2014, is $3,988,416.72:
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(1) The first action is to withdraw from that fund, with a 2/3 vote, $950,000 to be used to
mitigate the increase to the taxpayers from the exempt-debt service for the Bridge/Bowman, and
Estabrook Schools projects. (An additional $919,000 will be withdrawn as an appropriation under
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UPATES & ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM & STM
Article 4 (Appropriate FY2015 Operating Budget) to provide similar mitigation from the
non-exempt-debt service for the 2-year High School Modulars Project that was authorized at the
November 4, 2013 STM under its Article 4.).
(2) The second action is to deposit into that fund $6,160,726 that are not designated for use
toward FY2015 expenses.
(3) The projected balance after those actions (including the additional $919,000 withdrawal
under Article 4) would be $8,280,143—which continues to accrue interest earned. That balance would
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remain in this Fund and be available later in FY2014 and thereafter to be applied, with a 2/3 vote by a
future Town Meeting, toward any of the purposes in the full title of the Fund. Although not yet obligated
by any action of a Town Meeting, there are three more debt-mitigation-related draws contemplated from
this Fund. Those are simply projections at this point, but include using in FY2016 about $350,000 for an
additional mitigation of the exempt-debt service related to the same elementary-schools projects and
about $1,078,000 additional mitigation of the non-exempt-debt service related to the Modulars Project;
and in FY2017, about $805,500 of additional mitigation related to the Modulars Project.
b. The Traffic Mitigation SF—whose balance as of February 28, 2014, is $29,067.24. The deposit
into this Fund is available as a result of a $40,000 payment received from Cubist Pharmaceuticals in
connection with approval of a property-development project in Town.
\[End replacement text\]
Page 61 & 62, Article 22
a. Header box: In Funds Requested, change “$741,194.46” to “$741,193”, and in Funding
Source, change “(Debt)” to “(Cash)” and “$246,194.46” to “$246,193”.
b. At the end, replace the table in its entirety with:
Fund SourceOriginal AppropriationDescriptionsAmount
Premium on Bonds Sold on2011 STM (Nov 14) Article 2Bridge/Bowman Reconstruction$98,378.00
February 5, 2014
2012 STM (Apr 2) Article 3Estabrook School Construction$147,815.00
Subtotal$246,193.00
GF (Cash)2013 STM (Nov 4) Article 4High School Modular Buildings$495,000.00
Total$741,193.00
Appendix Page C-1, Article 8(a),
“(To be Indefinitely
a. After “39 Marrett Road Community Center Sidewalk”, add
Postponed)
”.
b. In the Request column, change “$100,000” to “0”.
c. In the Funding Source column, delete “CPF (Cash)”.
Appendix Page C-2:
a. Article 14(d): At the beginning of the Description, add “Extraordinary”.
b. Article 14(i): At the end of the Description, delete “($275,000)”.
c. Before the entry for Article 19, insert:
17Establish and Appropriate To and From SpecifiedSee Page 60
Stabilization Funds
d. In the bottom Totals, change the title to “Totals (excluding Article 17)”, and reduce the
Request amount by $100,000.
e. In the footnote, change “$246,194.46±” to “$246,193”.
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