2023-01-19-AC-min - Laserfiche WebLink

Browse Search

Minutes Town of Lexington Appropriation Committee (AC) January 19, 2023 Place and Time: Remote Participation: In accordance with “An Act Relative to Extending Certain State of Emergency Accommodations”, signed into law by Gov. Baker on July 16, 2022, communication took place via a Zoom teleconferencing session; 7:30 p.m. Members Present: Glenn Parker, Chair; Sanjay Padaki, Vice-Chair; Anil Ahuja; John Bartenstein; Eric Michelson; Sean Osborne; Lily Manhua Yan; Carolyn Kosnoff, Assistant Town Manager, Finance (nonvoting, ex officio) Member(s) Absent: Alan Levine Other Attendees: David Kanter, Capital Expenditures Committee (CEC); Joe Pato, Select Board Member; Charles Lamb, Chair, CEC; Marilyn Fenollosa, Chair, Community Preservation Committee (CPC) At 7:33 p.m. Mr. Parker confirmed attendance by roll call and stated that the meeting was being recorded for the purpose of creating minutes. Mr. Ahuja agreed to take minutes in the absence of a recording secretary. Announcements and Liaison Reports Ms. Kosnoff said that a meeting was held today with the Town Manager and representatives from the Select Board, AC, CEC, and School Committee, and that the White Book should be released on Friday, January 20. Budget Summit IV will be held on January 30. The finance office plans to issue a bond in February for the bulk of the Police Station project costs. Initial plans were to issue the first bond for the Police Station next year but the Town’s financial advisors have recommended that a bond for the complete construction be issued this year as interest rates are projected to go higher by 75 basis points. Mr. Padaki mentioned that several questions that arose from the previous Summit meeting should be discussed at a following AC meeting. Article 10 – Community Preservation Act (CPA) Ms. Fenollosa reported that the CPA previously has done the following in Lexington: • created 41 units of Community Housing for $12 million • funded 96 Historic Resource projects at a cost of $34 million • acquired or preserved 68 acres of open space for $18.8 million • created or preserved 68 Recreational Resources for $22.6 million At the beginning of the 2023 annual town meeting (ATM), $16,772,276 will be available for appropriation from the Community Preservation Fund (CPF). The total of all proposed project costs and administrative expenses for FY2024 is roughly $14 million, which would leave a cash balance of $2,849,366.