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Home My WebLink About2017-04-03-CPC-ATM-rpt (Update #1) Town of Lexington TO THE Report to 2017 Annual Town Meeting Article 10: Community Preservation Committee, Community Preservation Act Projects Submitted by: Marilyn Fenollosa, Chair Richard Wolk, Vice Chair Norman Cohen Charles Hornig David Horton Jeanne Krieger Robert Pressman Sandra Shaw Melinda Walker Elizabeth Mancini, Administrative Assistant Approved April 3, 2017 Community Preservation Committee Annual Town Meeting 2017 Updates: publication of the Community Preservation Committee Report to 2017 Annual Town Meeting. The Community Preservation Committee has recommended Indefinite Postponement of the Stone Building Feasibility Study (Article 10(h)). Due to the Indefinite Postponement of this article, several descriptions and tables in the original report have been updated to reflect the adjusted amounts. The following pages of the CPC Report to 2017 Annual Town Meeting (approved March 27, 2017) have been replaced and are included in their entirety in this publication: Page 1- Summary of Recommended CPA Projects under Article 10 for Annual Town Meeting. Page 17- Article 10(h), Stone Building Feasibility Study- Project Summary. Page 52- FY18 CPA Project Costs and Summary. Page 53- Summary of net balance available after 2017 Annual Town Meeting. 1 Community Preservation Committee Annual Town Meeting 2017 Summary of Recommended Community Preservation Act Projects under Article 10 for Annual Town Meeting FY 2018 The Community Preservation Committee (CPC) is recommending 11 projects to the 2017 Annual Town Meeting for funding under Article 10. Three projects fall within the area of Historic Preservation, three under Open Space, three under Recreation and two under Community Housing. Described on pages 9 through 24, each project was reviewed and evaluated by the CPC in light of its statutory eligibility and importance to the Town; all 11 received Town Counsel approval. All FY18 applications were discussed in public CPC meetings and were presented at the Town Meeting Members Association Information Session on March 9, 2017. The total cost of the 11 projects which the CPC is recommending to Annual Town Meeting is $3,989,142. The CPC is also recommending approval of Debt Service and Administrative Expenses to be paid from the Community Preservation Fund. There are four commitments for debt service, which include payments for the Wright Farm Acquisition, the Community Center Acquisition, Community Center Renovations and Cary Memorial Building Upgrades. The approved Administrative Budget remains constant at $150,000. These Administrative and Debt Service costs total $2,540,998 and are detailed on pages 25 through 27. 2 ARTICLE 10 (h) Project: Stone Building Feasibility Study Indefinitely Postponed 3 FY18 CPA PROJECT COSTS AND SUMMARY ANNUAL TOWN MEETING- ARTICLE 10VOTEAMOUNT HISTORIC RESOURCES Art. 10(a)Interpretive Signage Project9-0$38,400 Parker's Revenge Interpretive and Public Education Signage Art. 10(b)and Displays8-0-1$41,350 Art. 10(h)Stone Building Feasibility StudyI.P Art. 10(i)Munroe School Window Restoration 9-0$620,000 Art. 10(j)Center Streetscape ImprovementsI.P Art. 10(k)Community Center Sidewalk I.P Subtotal$699,750 COMMUNITY HOUSING Art. 10(c)Greeley Village Rear Door and Porch Supplemental Request9-0$56,712 Art. 10(d)Affordable Units Preservation- Judges Road/ Pine Grove 6-0$1,048,000 Subtotal$1,104,712 OPEN SPACE Art. 10(e)Willard's Woods and Wright Farm Meadow Preservation 9-0$40,480 Art. 10(f)Cotton Farm Conservation Area Improvements9-0$301,300 Art. 10(g)Wright Farm Supplemental Funds9-0$37,900 Subtotal$379,680 RECREATION Art. 10(l)Park Improvements- Athletic Fields9-0$125,000 Art. 10(m)Town Pool Renovation 9-0$1,620,000 Art. 10(n)Park and Playground Improvements9-0$60,000 Subtotal$1,805,000 Total ATM Projects Art. 10 (a-n)$3,989,142 Art. 10(o)CPA Debt Service6-0$2,390,998 Art. 10(p)Administrative Budget9-0$150,000 Subtotal$2,540,998 TOTAL FY18 COSTS FOR ARTICLE 10 (a-p)$6,530,140 4 SUMMARY FINANCING SOURCES AVAILABLE CASH BALANCES $3,358,645 ESTIMATED FY18 REVENUE $5,442,180 TOTAL AVAILABLE FOR FY18 $8,800,825 FY18 COSTS (Annual Town Meeting) PROJECT COSTS TO BE TAKEN FROM CPF CASH $3,989,142 ADMINISTRATIVE EXPENSES AND DEBT SERVICE $2,540,998 TOTAL $6,530,140 NET BALANCE (AVAILABLE FOR FY19) $2,270,685 5