HomeMy WebLinkAbout2017-10-04-CEC-min
Minutes of the
Lexington Capital Expenditures Committee (CEC) Meeting
October 4, 2017
Location and Time: Town Office Building, Reed Room (111); 7:30 A.M.
Members Present: Jill Hai, Chair;Charles Lamb, Vice-Chair, David Kanter, Clerk;
Sandy Beebee; Rod Cole; Wendy Manz; Frank Smith
Member Absent: None
Others Present: Carolyn Kosnoff, Assistant Town Manager for Finance
Documents Presented:
Notice of CEC Meeting, October 4, 2017
Draft #3 of CEC Report to Special Town Meetings (STMs) 2017-2 & 2017-3
Capital Financing Model and Property Tax Mitigation Plan, Financial Summit #1,
October 5, 2017, Prepared by Carolyn J. Kosnoff, Assistant Town Manager for
Finance
Draft #3 of the Minutes for the CEC meeting on September 20, 2017
Draft Minutes for the CEC meeting on September 26, 2017
Call to Order: At 7:32 A.M., Ms. Hai called the meeting to order.
Preparation for STMs 2017-2 & -3 (scheduled to begin on Monday, October 16,
2017)—including the CEC report to those STMs—and Discussion of matters related
to the subsequent Debt-Exclusion Referendum:
Ms. Hai led the Committee through its review of the Draft 3 of its report to STMs 2017-2 &
3. The Committee discussed each Article, agreed on the text for each while noting the
Comments which identified the additional, non-substantive, further changes to be made,
and formally voted the CommitteeÓs positions as follows:
\[Note: While the following actions were paused to address the Capital Financing Model and
Property Tax Mitigation Plan (see below), they are being presented together for the
convenience of the reader\],
STM 2017-2:
Article 2: Appropriate for Hastings School Construction: Vote: Approval (7–0)
Article 3: Appropriate Design Funds for Lexington ChildrenÓs Place/20 Pelham Road:
Vote: Approval (7–0)
Article 4: Appropriate Design Funds for Fire Headquarters: Vote: Approval (7–0)
Article 5: Appropriate for Temporary Fire Station Construction: Vote: Approval (7–0)
STM 2017-3:
Article 6: Establish and Appropriate to and from Specified Stabilization Funds: Vote:
Approval (7–0)
Article 7: Amend Revolving Fund Authorization: Vote: Approval (7–0)
Article 8: Appropriate Design Funds for Visitors Center: Vote: Limited to Funds for a
Revised Schematic Design with a Substantially Lower Project Cost (7–0)
Article 9: Appropriate for Solid Waste Collection Equipment: At the time of this
meeting, the Board of Selectmen had not made a decision as to the collection
methods under the new contract and whether new rollable, covered, barrels for
automated pickup would be provided under that contract or purchased by the
Town. If those decisions have not been made before this STM is ready to be
Page 1 of 2
Minutes of the Lexington Capital Expenditures Committee (CEC) Meeting
October 4, 2017
dissolved, the Committee expects this Article would be moved to be Indefinitely
PostponedÏwhich this Committee would then unanimously support. Vote: Pending
(7–0);
Article 11: Appropriate for Lexington High School Security System Design: Vote:
Approval (7–0)
Article 12: Appropriate Community Preservation Act Projects:
Part 1: For the Affordable Housing request: Vote: Approval (7–0)
Part 2: For the Open Space request: Awaiting more information as the
Community Preservation Committee (CPC) has not yet recommended any funding
request. The committee will include this sub-Article in its report if the CPC recommends
a request. Vote: Pending (7–0)
Article 13: Appropriate for Authorized Capital Improvements: The Committee has
been advised there are no actions required. Vote: Indefinite Postponement (7–0)
While the Committee hopes it would know the CPC decision regarding what would be
Article 12, Part 2, prior to the next CEC meeting on October 6, 2017, a Motion was made
and seconded to approve the Draft #3 of the CEC report to Town Meetings 2017-2 & -3,
with the known, non-substantial, further inputs that are to be added as well as any
additional, non-substantial, changes approved by this CommitteeÓs Chair, Vice-Chair, or
Clerk. Vote: Approval (7–0)
Ms. Kosnoff initiated the discussion of the Capital Financing Model and Property Tax
Mitigation Plan that will be presented tomorrow evening to Budget Summit I. The primary
feedback provided to her by the Committee was that: (1) The failure to address anywhere
in the model the projected Lexington High SchoolÓs renovation/replacementÏwhich is
expected to be the TownÓs largest-ever capital program (possibly on the order of $200
million)Ïremains a critical omission; (2) The alternative to finance the $12.344 million land
purchases (20 Pelham Road & 173 Bedford Street) with Bond Anticipation Notes that would
be retired from an uncertain, supplemental, revenue puts the TownÓs usual level of Cash
Capital projects in the out years at substantial risk. That risk needs to be explicitly
acknowledged in the model; and (3) The cumulative dollar amounts in the annual change in
tax bill needs to be checked as the difference in the alternatives seems very smallÏ
perhaps because the aggregate tax amount over the years must still be collectedÏand, if
that be the case, that should also be explicitly acknowledged in the model.
Approval of Minutes: A Motion was made and seconded to approve, as amended, the
Draft #3 Minutes of the CEC meeting on September 20, 2017, and the Draft Minutes of the
CEC meeting on September 26, 2017. Vote: 7–0
Next Meeting: Although posted for October 6, 2017, at 7:30 A.M. in the Cary Memorial
LibraryÓs Learning Room (more properly identified as the Learning Center), for the
memberÓs convenience, that meeting will not be called to order until 8:00 A.M. (Mr. Kanter
plans to be there at the posted time in case a non-member arrives then.)
Adjourn: A Motion was made and seconded at 9:41 A.M. to adjourn. Vote: 7–0
These Minutes were approved by the CEC at its meeting on October, 6, 2017.
Page 2 of 2