2009-01-14-CEC-min - Laserfiche WebLink

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Lexington Capital Expenditures Committee (CEC) Minutes, / / 14/09, 8 : 3 0 am, Town Office Building, Room 111 Members Present: Shirley Stolz, David Kanter, Charles Lamb (Chair), Bill Hurley Others: Rob Addelson (Assistant Town Manager & Town Comptroller) Discussion of Stone Buildin CEC won't interfere with the intent of the Community Preservation Committee if they feel that a Historic Structures Report is necessary. It was moved, seconded, and unanimously approved to ratify our Committee's support for this Appropriation Committee statement to the Board of Selectmen regarding the Munroe School: As financial advisory committees to Town Meeting, we believe it is important that the town understand the financial consequences of a decision to sell the Munroe School and that this necessarily requires a real estate appraisal of the building's fair market value as currently zoned, the appraisal to include, among other things, consideration of the building's highest and best use, of other possible uses, and of its capital needs. Updates on FY2010 Capital Rob Addelson: The brook-restoration effort was $SOOK, is now down to $300K, with the request of $110K for the first of a three-phase capital study. This was pared back due to the fiscal climate. The FY09-to-FY10 debt service bump is $470K. The staff has made general reductions in the capital requests. The Hastings oil tank removal will go to $0. Work on the Lexington High School heating will go to $350K-for just the satellite buildings-from $900K. The sale of residential property last year was $27,500. The law specifies a limited use of the proceeds. Rob was able to apply it to the Head End Equipment request in the White Book (Town Manager's Preliminary Budget & Financing Plan). Adjourn: 9:45 am Approved: February 4, 2009