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Minutes of the Community Preservation Committee <br /> Executive Session <br /> Thursday, December 8, 2016 <br /> Parker Meeting Room <br /> Town Office Building <br /> 1625 Massachusetts Avenue <br /> 5:25 PM <br /> Committee Members Present: Marilyn Fenollosa (Chair), Norman Cohen, Charles Hornig, David <br /> Horton, Jeanne Krieger, Robert Pressman, Sandra Shaw. <br /> Absent: Robert Peters, Richard Wolk <br /> Administrative Assistant: Elizabeth Mancini <br /> Other Attendees: Carl Valente, Town Manager; Rob Addelson, Assistant Town Manager for <br /> Finance. Wendy Manz, Capital Expenditures Committee liaison to the CPC and Melinda Walker, <br /> Lexington Housing Authority were invited to stay for the Executive Session. <br /> At 5:25PM, upon a motion duly made and seconded, it was voted by roll call (7-0) to go into <br /> Executive Session under Exemption 6 to consider the purchase, exchange, lease or value of real <br /> property and to reconvene in Open Session for the purpose of adjourning; the Chair declaring <br /> that an Open Meeting might have a detrimental effect on the negotiating position of the Town. <br /> 1) Judge's Way Affordable Housing Restriction- Mr. Valente discussed a proposal to <br /> acquire five units and the deed restrictions on all 16 units at the Judge's Way affordable <br /> housing complex. It recently came to the Town's attention that 11 of the 16 units may <br /> lose their affordability restrictions therefore removing them from the Town's affordable <br /> housing inventory. The Town questioned the legal authority to remove the affordable <br /> housing restrictions based on a similar case in Wellesley. The goal of the Board of <br /> Selectmen and the Town is to maintain the affordable housing restrictions on all units <br /> and acquire five rental units to be subsequently conveyed to the Lexington Housing <br /> Authority or LexHAB. <br /> Mr. Valente advised that the current estimate for the project was $535,000 and was <br /> representative of the loss of fair market value to unit owners and the cost of acquiring <br /> five units. He also confirmed that the current proposal did not include renovation funds <br /> for the five units that the Town intended to acquire. Mr. Addelson mentioned that <br /> 1 <br />