2015-01-20-CEC-min - Laserfiche WebLink

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Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting January 20, 2015 Town Office Building, Reed Room; 8:00 .. Location and Time: AM Jill Hai, Chair; David Kanter, Vice-Chair & Clerk; Elizabeth Barnett; Members Present: Rod Cole; Wendy Manz (arrived 8:55 ..) AM None Members Absent: Sara Arnold, Recording Secretary Others Present: Documents Presented: Notice of Public Meeting/Agenda for January 20, 2015 Mr.Kanter Update on his Preliminary Positions of the CEC on the FY2016ÃFY2020 Capital Improvement Projects (CIPs) & Non-Town Applications to the Community Preservation Committee \[CPC\], January 19, 2015 Ms. Hai called the meeting to order at 8:00 .. Call to Order: AM Review of the Fiscal Year 2016 Town ManagerÈs Preliminary Budget and Financing Mr. Kanter and Ms. Barnett reported on the Plan, January 12, 2015 (White Book): th January 15 Budget Collaboration/Summit 4. They included the following points: There was a straight-forward presentation of the White Book. The GIC insurance premiums may be greater than the 5% currently being carried in the FY2016 budget. The advance suggestion is that it may increase to 9%, but the Town Manager expects it may end up being about 7.5%Äwhich would add about $500,000 to the operating budget. There is a proposal to add almost $10.0 million into the capital-related stabilization fund. Financing plans for a new fire headquarters, police headquarters, and large school capital projects were not presented. Ms. Barnett noted that although there are hiring freezes at the State level and in Boston, Lexington is planning to add 11 new staff positions on the Town side. Member Concerns and Liaison Updates: th Mr. Cole reported on the January 15 Ad hoc School Department Expansion Projects: School Master Planning Committee (AhSMPC) meeting. He included the following points: There was less convergence on a defined plan than he had anticipated. Some AhSMPC members have suggested that the School Committee ask for a Special Town Meeting to request design funds, but it isnÈt clear what should be designed. A complicating factor is that the Massachusetts School Building Authority (MSBA) did not advance LexingtonÈs Statement of Interest (SOI) for State financial assistance in rebuilding/renovating the Maria Hastings Elementary School (Hastings). There are differing opinions as to whether the Town should rebuild the Page 1 of 6