2023-06-12-EDAC-min - Laserfiche WebLink

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5. Follow ups from 2023 Annual Town Meeting - EDAC a. Article 34 – it passed and is being prepped to go to the AG for review. Lexington was first to pass a plan. b. Town Study of Development options for 173 Bedford Street / Depot Parking Lot i. Bridger put out that instead of $6M investment in renovating 173 Bedford we should look at an actual commercial analysis of rent vs renovate? ii. Doug: if EDAC had opportunity to prepare rent analysis for the Town of Lexington that could be helpful. The site is potential swing space for town departments. iii. Charlie: 173 generates no taxes now. There is more revenue to unlock there. c. Other items? i. Charlies asked about Article 40 and had the town looked at the impact on spec homebuilding? The reduction of GFA may deter “on spec” tear down construction. Offered that the Town should be looking at revenue impacts from new growth revenue). ii. Joe/Doug did say they underestimate for budgeting the new growth number. iii. Charles H. stressed this was not going into effect until next year so impact will not immediately be known. iv. Charlies restressed the focus on the new revenue is something to be mindful of in light of Article 40s passage. 6. Update from Ad Hoc Transportation Committee on LexPress – Bridger McGaw a. We are continuing to try and organize the volume of data we have from the town on the history and operations of Lexpress. 7. Discussion of Study on Leasing Swing Space vs Renovation of 173 Bedford Street – EDAC a. Ric to follow up. 8. Discussion of Lexington Center Development Summit – EDAC a. Select Broad is still looking to fund the Summit from a source. There is a consultant that does this type of facilitation and planning work we would hire to support the topic. b. Jon Chesto article in Business Section of the Boston Globe. Shows the major challenge of losing first floor retail in the Financial District. But this could be a warning for our small business areas as well. c. Select Board has asked Staff for a policy for ad hoc liquor licenses so we can formalize the process and policies in the mixed-use concepts. This may help create more opportunities in the Center. 9. New Business or Urgent business that may properly come before the Committee that could not be foreseen by the Chair. (Per the Town Clerk items brought up under this item may not be voted upon) a. None. The Meeting Adjourned unanimously.