2003-01-23-CEC-summit - Laserfiche WebLink

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Town of Lexington Capital Expenditures Committee Draft Summit V Meeting Notes, including continuing Committee Meeting Notes January 23, 2003 Bowman School Gymnasium Committee members present: Bhatia, Burnell, Hornig, Rosenberg, Stolz Meetings: Wednesday, February 5, 7:30 p.m., Town Office Building, Room 111 At the Summit, convened at 7 p.m., Selectmen and School Committee agreed on an at-risk list comprising some $40,ooo more than required for the $4.957 million override amount. The total includes $216,000 of cash capital. Hornig projected a spreadsheet demonstrating committee priorities: landfill closure, Diamond gym floor, Cary Hall retrofit, and Harrington gym floor, for $790,.000 of short- term borrowing; cash of $327,000 for a replacement fire engine; and, at risk, Buckman Tavern roof, the DPW wkywalker equipment, and the fire department air-compressor unit, totaling $205,000. [See below for changes in these priorities.] Selectmen McKenna expressed an interest in jointly discussing which items to put at risk. Selectman Enrich asked about the amount of borrowing; Hornig said that it approximated the borrowing of last year, was below the Capital Budget Team recommendation (reflecting committee decisions to prioritize items within the Building Envelope and vehicle replacement requests; committee prioritization done before financing constraints were considered; and the sense that higher borrowig this year would reduce cash available still further for next year). [There was also discussion pertaining to the Ch. 90 and operating-overide road funds, and the debt-exclusion override road funds, both assumed in the committee working papers; and about the Hastings roof repair, which the committee thought could be deferred only a year, and which put the gym floor at risk.] Following the completion of the Summit, the committee remained in session to: