HomeMy WebLinkAbout2009-01-14-CEC-minLexington Capital Expenditures Committee (CEC) Minutes, / / 14/09, 8 : 3 0 am, Town
Office Building, Room 111
Members Present: Shirley Stolz, David Kanter, Charles Lamb (Chair), Bill Hurley
Others: Rob Addelson (Assistant Town Manager & Town Comptroller)
Discussion of Stone Buildin
CEC won't interfere with the intent of the Community Preservation Committee if they
feel that a Historic Structures Report is necessary.
It was moved, seconded, and unanimously approved to ratify our Committee's support
for this Appropriation Committee statement to the Board of Selectmen regarding the
Munroe School:
As financial advisory committees to Town Meeting, we believe it is important
that the town understand the financial consequences of a decision to sell the
Munroe School and that this necessarily requires a real estate appraisal of the
building's fair market value as currently zoned, the appraisal to include,
among other things, consideration of the building's highest and best use, of
other possible uses, and of its capital needs.
Updates on FY2010 Capital
Rob Addelson: The brook-restoration effort was $SOOK, is now down to $300K, with the
request of $110K for the first of a three-phase capital study. This was pared back due to
the fiscal climate. The FY09-to-FY10 debt service bump is $470K. The staff has made
general reductions in the capital requests. The Hastings oil tank removal will go to $0.
Work on the Lexington High School heating will go to $350K-for just the satellite
buildings-from $900K.
The sale of residential property last year was $27,500. The law specifies a limited use of
the proceeds. Rob was able to apply it to the Head End Equipment request in the White
Book (Town Manager's Preliminary Budget & Financing Plan).
Adjourn: 9:45 am
Approved: February 4, 2009