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APPROPRIATION COMMITTEE REPORT TO THE MARCH 2013 ATM
<br /> a potential safety issue. Also, opening and closing of the deteriorated doors often presents difficulties for
<br /> the residents. This preservation project will add another level of security and safety to Greeley Village.
<br /> The full cost of the project is estimated at $190,734. The Lexington Housing Authority applied for and
<br /> was awarded a commitment of $18,000 by the Department of Housing and Community Development
<br /> (DHCD) for funding assistance. This reduced the project cost to $172,734, the amount being requested in
<br /> FY2014 CPA funds.
<br /> Article 8(m) LexHAB Set-Aside Funds for Development of Community Housing $450,000 LexHAB
<br /> seeks $450,000 in Set-Aside funds in FY2014 for the development of community housing in Lexington.
<br /> In years past, Set-Aside funds have been used for the acquisition of affordable housing, but in FY2014,
<br /> the CPC stipulated that LexHAB's grant of CPA funds must be used for creation of housing at either the
<br /> Leary or Busa sites. The units that LexHAB builds will be subject to specific standards set in place by the
<br /> CPC and agreed upon by LexHAB and the Board of Selectmen. All units created (and acquired) with
<br /> CPA funds will be protected by affordable housing deed restrictions, and will become part of the Town's
<br /> Subsidized Housing Inventory (SHI). This is the third year that LexHAB has requested Set-Aside funds
<br /> for affordable housing acquisition/creation. CPA funding approved for FY2012 was used to purchase a
<br /> home at 1 Wilson Road, which is now rented. Approximately $85,000 of that appropriation remains un-
<br /> spent, as does the entire FY2013 appropriation of$450,000. In light of this, the CPC imposed the condi-
<br /> tions described above for the use of FY2014 funding. Funds that are not expended in FY2014 may be car-
<br /> ried over and used for affordable housing creation the following year, subject to the same restrictions.
<br /> Article 8(n) ACROSS Lexington Pedestrian/Bicycle Route System $5,000 ACROSS Lexington (Access-
<br /> ing Conservation land, Recreation areas, Open space, Schools and Streets in Lexington) is a proposed 40-
<br /> mile network of pedestrian and bicycle routes utilizing existing public ways. Implemented by the Green-
<br /> ways Corridor Committee, its purpose is to link many parts of the Town of Lexington through existing
<br /> conservation trails, the Minuteman Bikeway, and sidewalks. The proposed project will provide CPA
<br /> funds for the purchase and installation of signs, signposts, and hardware for marking the ACROSS Lex-
<br /> ington network. In addition to this funding request for route marking materials, additional funds from the
<br /> tax levy ($875) are also sought and will be used for maps, brochures, and other project components that
<br /> are not CPA-eligible.
<br /> Article 8(o) Buckman Tavern Restoration and Renovation $650,000 This request is made by the Lex-
<br /> ington Historical Society for the renovation and restoration of Buckman Tavern, a National Historic
<br /> Landmark. The scope of work includes repairing the historic fabric of the building, making it handi-
<br /> capped accessible on both floors, making it compliant with current building codes by installing new wir-
<br /> ing throughout the building to meet current code requirements, climate control features, and a fire sup-
<br /> pression system. Accessibility improvements will include two accessible entrances, installation of a lift to
<br /> the second floor, and internal modifications made to accommodate wheelchairs without impairing historic
<br /> fabric. The project will also include window and door restoration, improved site drainage, masonry and
<br /> plaster repairs, and internal and external painting on this 18'h century building. Buckman Tavern is owned
<br /> by the Town of Lexington and is operated by the Historical Society under a long-term lease with the
<br /> Town. All improvements proposed as part of this project will be approved by the Town through the Pub-
<br /> lic Facilities Department. The total project cost of the restoration is $950,000.The Historical Society is
<br /> seeking $650,000 in CPA funds, and the remaining $300,000 will be raised from private sources.
<br /> Article 8(p) Wright Farm Debt Service $36,875 At the 2012 Annual Town Meeting,voters approved the
<br /> $3,072,000 acquisition of the Wright Farm with CPA funding; authorized the Town to borrow $2.95 mil-
<br /> lion of the purchase price; and appropriated $37,000 in CPA funds for short term debt service and issu-
<br /> ance costs. On February 6, 2013, the Town sold a one-year, $2.95 million bond anticipation note (BAN)
<br /> that will come due in February of 2014. The BAN's issuance costs, anticipated to be approximately
<br /> $9,000, were paid with the FY2013 funds. However, the BAN's interest costs, which come due in Febru-
<br /> ary 2014, will be paid in FY2014 instead of FY2013. Therefore, unspent funds from the FY2013 appro-
<br /> priation will be returned to the CPC's Undesignated Fund Balance at year's end, and the interest expense
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