2014-01-14-CEC-min - Laserfiche WebLink

Browse Search

Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting January 14, 2014 Town Office Building, Parker Room; 8:00 .. Location and Time: AM Jill Hai, Chair; David Kanter, Vice-Chair; Bill HurleyWendy Manz; Members Present: ; Beth Masterman None Members Absent: Glenn Parker, Chair, Appropriation Committee;George Burnell, Member Others Present: of the Town Meeting Members Association (TMMA) Executive Committee; Rob Addelson, Assistant Town Manager for Finance; Sara Arnold, Recording Secretary DocumentsPresented: Notice of Public Meeting/Agenda for January 14, 2014, Meeting Town of Lexington, Massachusetts, Fiscal Year (FY) 2015 Town ManagerÈs Preliminary Budget & Financing Plan, January 13, 2014 (ÅWhite BookÆ) Condensed Table of Contents from CAPITAL EXPENDITURES COMMITTEE REPORT TO 2013 ATM with Default Committee-Member Assignments for Report to 2014 ATM & Accompanying STM; a document prepared by Mr. Kanter, January 6, 2014 Community Preservation CommitteeÈs FY2015 Project List, January 9, 2014, with Final Votes to that Date Draft #2 Minutes of the CEC Meeting, December 20, 2013 Ms. Hai called the meeting to order at 8:03 .. Call to Order: AM Mr. Kanter suggested that this Committee focus on Section XI Opening Comments: (Capital Investment) in the White Book when writing this CommitteeÈs report for the March 24, 2014, Special Town Meeting (STM) and the 2014 Annual Town Meeting (ATM). He then reported on the previous nightÈs Board of Selectmen (BoS) meeting saying that, subject to this CommitteeÈs review, the BoS is prepared to recommend that approximately $5.8 million be transferred into the Capital-related Stabilization Fund which, according to Deborah Mauger, BoS chair, along with mitigating debt service, would be used for sizable projects that are funded outside of a Proposition 2 debt exclusion. An example might be the Visitor Center renovation project. He added that when the current draws for such debt service from that Stabilization Fund are completed, the funds currently in that Fund would be essentially depleted. The BoS decided that it is more important to set this money aside to help with tax relief over the long term rather than seek tax relief immediately. th Comments for the January 15 Budget Collaboration/Summit Meeting IV and for this There was a quick CommitteeÈs Report(s) to the Spring 2014 STM and 2014 ATM: review of the FY2015 capital requests in the White Book to determine if this Committee would comment on any specific projects at the Summit meeting or if any projects might require additional narrative in this CommitteeÈs report(s) to those Meetings. Page 1 of 5