2013 RPT of CPC to STM-March-final

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Project Goals and Objectives • To preserve an important historical property, as listed on the Historical Commission's Comprehensive Cultural Resources Inventory; and • To provide a site and facility for a community center that will serve the needs of all age groups within the community. Project Benefit: This project will benefit the residents of Lexington by providing an opportunity for a long- sought after community center facility, to replace in part, the dated and undersized Senior Center. It will also protect an important historic resource in the Town. Funding Request: The funding request for the acquisition of the 33 Marrett Road parcel is $7,390,000 for the acquisition of the property, and $362,500 in ancillary costs, for a total of$7,752,500 in CPA funding. If this request is approved by Special Town Meeting, it is anticipated that the cost of the acquisition will be bonded at terms to be determined by the Board of Selectmen with input from the CPC and other Town financial committees. If the Scottish Rite property is acquired,it is anticipated that there will be requests for CPA funding in FY 15 and thereafter for renovation costs. 5