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<br /> April 21, 2005 <br />Minutes <br />Town of Lexington Appropriation Committee <br />April 21, 2005 <br /> <br />Members present: John Bartenstein, Deborah Brown, Paul Hamburger, Richard Eurich, <br />Alan Levine, Rod Cole, David Kanter, Ron Pawliczek <br /> <br />Also present: Norm Cohen, Shirley Stolz, John Rosenberg, Charles Lamb, Michael <br />Young <br /> <br />The meeting was called to order at 6:30 P. M. in Town Hall, Room G-15 <br /> <br />There was a discussion of how to handle any overrun on the elementary school project in <br />anticipation of the opening of the bids for the Fiske School on April 27. On the <br />assumption that the bid would exceed the amount of the debt exclusion override vote <br />($32,150,000) a number of options were discussed. <br /> <br />1. Cut furniture and other items in the option list when the project was initially sent out <br />for bid. <br /> <br />2. Add the amount over the expected projected cost to the amount originally mentioned in <br />the approved debt exclusion vote. <br /> <br />3. Fund any additional amount needed through the existing tax levy. <br /> <br />4. Cut some items from the proposed Fiske School and start the bidding anew. <br /> <br />Item 1 was not viewed as favorable in that one of the major items on the option list was <br />the geothermal system that is expected to result in operating savings in the future. In <br />addition, other items on the list would most likely have to be purchased in the future with <br />no state reimbursement. <br /> <br />Item 3, funding within the existing tax levy, would impact future capital projects in the <br />amount of the increased debt service. <br /> <br />Item 4, cutting the project and sending the project out for bid, was viewed as having <br />significant negative implications. In light of rising construction costs of approximately <br />1% per month, a delay would result in an increased project cost of $150,000 per month. <br /> <br />Item 2, funding the over run by increasing the exempt debt was the option supported by a <br />vote of 8 to 0. The motion that was approved is as follows: <br /> <br />In the event that the increase falls within an amount that would be approved by the state <br />and the total cost of the two school projects including contingencies is less than <br />$35,365,000 the increase should be included within the existing debt exclusion. <br /> <br /> - 1 - <br /> <br />