HomeMy WebLinkAbout2023-06-12-EDAC-min
APPROVED MEETING MINUTES OF THE
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE
June 12, 2023
The Economic Development Advisory Committee (EDAC) met Monday, June 12, at 8:30 a.m. to 10:00
a.m. via Zoom.
AGENDA
1. Opening of the Meeting and Attendance - Chair
a. Quorum was established at 8:33 am
b. Lisa Murray, Rick DeAngelis, Bridger McGaw, Dave Pronchick Adrienne Ortyl,
Charlie Minasian; Sam Ang
c. Sandhya Iyer, Doug Lucente, Joe Pato, Charles Hornig
2. Approval of April Meeting Minutes – EDAC
a. Wakelin abstained. Motion to approve the minutes from April 10th passed unanimously.
3. Report out from ED Office on New/Ongoing Development Projects in Town – Sandhya Iyer
a. Development on Construction has slowed
b. 1050 Waltham Street is opening with 100% occupancy on June 14
c. Sandhya attended the BIO conference.
d. In East Lexington, the Wayfinding signage package is out to bid and plan to install by end of
Summer.
e. Draft of the Landscaping design in East Lexington (Eastern side of Watertown Toyota)
f. 440 Bedford Street project is continuing.
g. 420-430 Bedford Street is still working through the MEPA process.
h. 475 Bedford – no update
i. Planning Board
i. Tracer Lane (Waltham Line) – Solar Project is now been appealed by City of
Cambridge regarding the environmental impact on the reservoir.
j. Sandhya is looking at Food Truck permitting and Signage Permit process.
i. Members agree that the signage process remains difficult and challenging for far too
long for a process the town controls.
4. Select Board Priorities for remainder of 2023 – Liaison(s)
- We are looking at our Goals and that we can achieve in the next 2 years. More tactical and
concrete in our goals.
- New economic development remains key to achieving town goals and slowing of
development is not ideal.
- Revitalization of East Lexington and ARPA investments remains of interest
- Tonight (6/12) is a vote on changing Lexpress fare structure recommended by TAC.
- Select Board voted $500K to support the 250th anniversary as we heard that no state/federal
money is coming.
- Charette for the Center is still a focus.
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.