2022-02-02-AC-min - Laserfiche WebLink

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02/02/2022 AC Minutes member who abstained felt the funds should come from the General Fund rather than the CPA. (f) Park Improvements—Hard Court Resurfacing, Farias Basketball and Gallagher Tennis Courts: These courts are used for basketball, tennis and pickleball. The intention is for these projects to be completed in the next fiscal year. (g) Park and Playground ImprovementsKineens Park: The equipment is at the end of its useful life. (h) Park ImprovementsAthletic Fields, Fiske School: These are well-used fields. (i) Community Park Master Plan Lincoln Park: The Recreation Department has conducted surveys to determine needs. A Master Plan is needed to prioritize projects that have been identified in the surveys or are in the Recreation Department's five-year capital plan. (j) Lexington Housing Assistance Board (LexHAB) Preservation, Rehabilitation, and Restoration of Affordable Housing: LexHAB owns units across Town, and the rents don't cover the capital improvements that are needed. (k) LexHAB-116 Vine Street Construction Funds: After studies and outreach to neighbors, this project has reached the construction phase. The two buildings, with a total of six affordable housing units, will include energy savings components. The $5.3 million estimate was made by an architect in December 2021. The estimate assumes prevailing wage, as required. Mr. Kanter suggested that there may be a revised cost estimate closer to the ATM when construction documents are completed. Ms. Kosnoff noted that the Select Board has expressed some interest in using some American Rescue Plan Act funds for affordable housing. This could include funding for LexHAB if requested. (1) Lexington Housing Authority (LHA) Vynebrooke Village Modernization: Only minor improvements have been made at Vynebrook Village since it was built in 1973. In 2019, LHA won a Modernizing Public Housing and Supporting Elders (MODPhase)grant to help pay for the $4.4 million total cost for modernizing the facility. CPC is recommending approval of$160,790 for elements of the modernization project that are CPA eligible. The grant includes access to a variety of services and resources. (m)CPA Debt Service: All currently outstanding CPA debt will be fully paid in FY2024 except for the Cary Memorial Building upgrades, which will be paid in FY2025. Ms. Kosnoff added that a Bond Anticipation Note (BAN)will be issued in the spring for the Community Center Renovation debt, which will be paid in FY2023. Most of the $772,208 for the Cary Memorial Building Upgrades is a bond paydown, but there will also be a BAN of about $38,000 for this project. (n) Administrative Expenses: $150,000 has been requested every year for some time and that amount is also requested this year. Last year unused funds were returned. There was discussion about using available cash versus incurring debt, particularly considering the anticipated increase in interest rates. It was noted that CPA funds can only be used for CPA- eligible projects thus limiting the value in borrowing for CPA projects. There was also discussion about a potential increase in CPA participation by additional towns, which might impact Lexington's portion of the available state matching funds. It was generally agreed that this was unlikely. Future Meetings Mr. Padaki reported that he had emailed Dave Pinsonneault, Director, Department of Public Works (DPW) about attending a future AC meeting to discuss Article 12: Appropriate for Municipal Capital Projects and Equipment. It was suggested that Mr. Pinsonneault also be prepared to respond to questions about Article 14: Appropriate for Wastewater System Improvements. It was agreed to 2