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CAPITAL EXPENDITURES COMMITTEE REPORT TO 2013 STM(Mar 18th)[corrected] <br /> Warrant Article Analysis and Recommendations <br /> CPF =Lexington's Community Preservation Fund; GF= General Fund <br /> Fund <br /> Authorization Funding Source Committee Recommends <br /> Requested <br /> TMArticle 2:Land <br /> Purchase off Marrett $7,390,000 CPF <br /> Road $10,950,000 + (Debt) + $3,560,000 <br /> $262,500 (for GF (Cash)+ Approve (5-0) <br /> ancillary costs) $262,500 CPF <br /> (Cash) <br /> "The Scottish Rite property at 33 Marrett Road is currently being evaluated for its suitability for <br /> municipal purposes. Depending on a number of factors, a significant portion of the acquisition cost of the <br /> property could be eligible for financing with CPA funds. If a purchase price can be agreed upon, Town <br /> Meeting will be asked to approve the purchase at the Special Town Meeting on March 18th." <br /> ["Town of Lexington Fiscal Year 2014 Recommended Budget & Financing Plan", March 1, 2013" (the <br /> "Brown Book"),Page XI-22] <br /> "We are the Board of Selectmen's negotiating team that has been working on the purchase of <br /> approximately 10 acres of property at 33 Marrett Road owned by the Scottish Rite. This property includes <br /> the historic mansion with adjoining annex and the carriage house,but excludes the museum and the single <br /> family residence on Marrett Road." [Negotiating Team letter to the Town Meeting Member Association <br /> E-Mail List, March 12, 2013] <br /> Proposed Purchase of Land at <br /> 33 Marrett Road (just under 10 acres) <br /> "Pine Grove" now excluded <br /> Lot with Commander's <br /> House now excluded <br /> Boundary i <br /> approximat e <br /> 1 <br />