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Lexington Capital Expenditures Committee (CEC) Minutes, 10/15/08, 8:30am, Town Office Building, Room 111 Members Present: David Kanter, Charles Lamb (Chair), Shirley Stolz Others: Connie Rawson (Library Director), Rob Addelson (Assistant Town Manager & Town Comptroller), Micah Niemy (Budget Officer) Discussion of FY 10 capital requests. Stone Building — Trustees want to move fast and the intent is for the funds to come from CPA. The trustees prefer option A, which is to add an "ell" on the back of'the building and use that ell as the main entrance. There is no stated purpose for the building under either option A or B. Information from the HKT architects Inc. "Planning Report for the Stone Building," Volume I, June 2008: Currently: 3,234 gross s.1. Option A: 4,308 gross s.f.; estimated construction cost $2,648,063 (That cost includes sitework and a proposed drainage system as well as a design contingency of 25% and a construction contingency of I 0%—escalated to a 2010 construction timeframe.) Option B: 3,528 gross s.f.; $1,798,780 (same costing parameters as Option A) DK: How soon will the ttees decide Which use? CR said by 10/31/08, and thinks it will be a multi- purpose use. If it remains a branch library, then the status quo would be 25 hours per week. The planning report for the Stone Building indicates that it will take $271K to bring the DIE to Bid Documents phase. The building is presently mothballed, the insurance claim is settled, but no work has been done. Rob then spoke about future issuance of debt. Rob spoke with RFA (the Town's bond advisor). The Town will go to market in February, but they're not sure how much. RFA says "not to worry" with regard to finding a market. In the previous week Sudbury, Aaa, issued BANs "in the 2's". Lexington issued $18.6m as bonds for the new DPW facility last February at 3.5 to 4.0%, and that project will required issuing up to $7M more. Chiel'of'Police Chris Casey and Captain Mark Corr join at 9:20am LPD Space Needs study, $45k. LPD HQ has 12,500 s.f. presently and more than 50% of that would he subject to major renovation. DIE would be two phase in FY 1 1 and FY12 with construction in FY 1 3. It's considered eligible for CPA funding and they will be presenting it to the Community Preservation Committee. Discussion of Police Software. Woburn spent $500K for their system. This would not be until FY12. CEC is generally supportive of this. Adjourn: 10:15am Approved: November 26, 2008