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Home My WebLink About2010-12-02-EDAC-min TownofLexington EconomicDevelopmentAdvisoryCommittee December2,2010 LegionRoom,CaryHall1605MassachusettsAvenue Lexington,MA 8:00am9:30am AGENDA LdladqrOqdrdms9Bg`hq+IngmLbVddmdx+UhbdBg`hq9M`q`hmAg`sh`+\[ğǞƩĻƓĭĻ{ƒźƷŷͲ {źŭƒğƩǒƌƌƒğƓƓğƓķWƚĻźƓƉ Staffpresent:MaryannMcCallTaylor,andSusanYanofsky MinutesofNovember19,2010wereapprovedonamotionbyL.Smith(secondS.Tullmann) CommitteeengagedinadiscussionoftheHartwellAreareport.Committeethoughtthereportisbackground informationforaHartwellstrategy.Reportwillberenamedtosuggestthis. N.BhatiaaskedwhatthevisionisforHartwell,istogetmoneyoutofHartwell,havewedoneenoughtoachievethis? Hartwellstrategydiscussion 1218HartwellAvenue,HartwellSquareProposal.ColinSmithofColinSmithArchitectswaspresent.TheCommittee wasinreceiptoftheFiscalImpactAnalysispreparedforLexingtonManagement.N.Bhatiaaskedwhatthebreak pointwasonrent.C.Smithresponded$30to$35.L.Smithaskedifthesitehadbeenmaxedoutforretail.C.Smith respondedthatparkingwasalimitingfactor,theyareat5spacesper1000forparking.J.McWeeneysuggestedthat thePlanningBoardwillhavetodecideiftheTMODplanwiththemediancanaccommodateretail.J.Zinksuggested thattheshellcostseemedhigherthanwhatwastypicallyneededforretailandthismaynotberealistic,theymaynot havetospendthatmuch. OnamotionbyL.Smith(secondS.Tullmann)theEDACrecommendsthe1218HartwellproposaltotheBoardof Selectmenbecausetheprojectspresentseconomicgrowth,andausethatiscompatibleanddesirableforthearea. TheEDACencouragestheapplicanttoworkwiththePlanningBoardontheTMODinfrastructureissues.Thisisan obsoletebuildingthatneedscapitalinvestment.TheprojectintroducesretailandtheEDACisinsupportofthe conceptofbusinessretail.Fouraffirmativevotesandoneabstention. 9:30amAdjournment FutureMeetings: January6 February3 March3 Z:\\EDAC\\EDAC Minutes\\Minutes 12-2-10.doc