HomeMy WebLinkAbout2020-10-15-CEC-STM#3-rpt (Supplement - Article 7) CAPITAL EXPENDITURES COMMITTEE SUPPLEMENTAL REPORT TO STM 2020-3
CAPITAL EXPENDITURES COMMITTEE
TOWN OF LEXINGTON
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SUPPLEMENTAL REPORT TO THE SPECIAL TOWN
MEETING (STM) 2020-3
(OPENING SESSION WAS OCTOBER 14, 2020)
ADDRESSING
ARTICLE 7, LAND ACQUISITION
Released October 15, 2020
Submitted by:
Charles Lamb, Chair
David G. Kanter, Vice-Chair & Clerk
Sandy Beebee
Rodney Cole
Wendy Manz
Frank Smith
CAPITAL EXPENDITURES COMMITTEE SUPPLEMENTAL REPORT TO STM 2020-3
STM 2020-3 Warrant-Article Explanation and
Recommendation
Cite of the "Town Warrant" refers to the September 14, 2020, "Town of Lexington Warrant for
the Special Town Meeting 2020-3", October 14, 2020.
Article 7: Land Funds Requested Funding Source Committee
Acquisition Recommends
$2,560,000 (CPF
$3,560,000 Cash) + $1,000,000 Approval (6-0)
(CPF Debt)
"To see if the Town will vote to authorize the Select Board to purchase, take by eminent
domain, or otherwise acquire for Open Space, Community Housing and Preservation of Historic
Resources a particular parcel or parcels of land; and to appropriate a sum of money therefor and
determine whether the money shall be provided from the tax levy, by transfer from available
funds, including the Community Preservation Fund [CPF], or by borrowing, or by applying and
receiving funding from available grant sources to reimburse the Town for a portion of the
purchase price of the property; to enter into any contracts and agreements related to the
application or the award of funds; or any combination of these methods; or act in any other
manner in relation thereto.
"DESCRIPTION: This Article requests funds to purchase land"
(Town Warrant)
This Article requests funds to purchase approximately 4.48 acres of forested open space which is
a portion of a residential parcel referred to as the Ashley property, located at 39 Highland
Avenue. The remaining 0.61 acres of the original parcel, which contains a single-family house
and a barn, will be retained by the sellers as a separate lot. The Lexington Housing Assistance
Board (LexHAB) had an opportunity to inspect those buildings to assess the possibility of
creating units of affordable housing, but has determined that the cost of renovation is too high to
make the project feasible.
The open space sought to be acquired by the Town, which is to be permanently restricted as
conservation land, abuts the 55-acre Upper Vine Brook Conservation Land to the southeast, and
contains trails to the conservation lands which can be accessed from the end of the improved
portion of Highland Avenue. It has been on the Conservation Commission's list of desired
properties since 2006, and has been the subject of negotiation between the Town and the owners
for more than two years, leading the Town's Community Preservation Committee (CPC) to
anticipate a possible purchase in its budgeting. The Town has obtained appraisals for the open
space of$3.8 million and $4.3 million. The agreed purchase price is $3.5 million. An additional
$60,000 is also requested to cover ancillary expenses related to this purchase including legal
services, surveys and baseline mapping, conservation restrictions and enforcement, land
management, and environmental-assessment fees. (See the CPC report to this STM for additional
details.)
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CAPITAL EXPENDITURES COMMITTEE SUPPLEMENTAL REPORT TO STM 2020-3
This Committee supports this acquisition for the following reasons:
• Lexington has long been committed to preserve generous parcels of open space which
contribute to the character and value of our community. They are a benefit available to
all our residents, particularly in this time of pandemic when more of us are using
walking trails and natural areas for recreation.
• This land is a gateway to the Upper Vine Brook parcel and extends and enhances
existing conservation lands, providing a wetland buffer and contributing to climate
resiliency.
• Leaving the parcel open to by-right development would devalue the abutting Upper Vine
Brook area, and would also place additional stress on Town services.
• While the price of land is substantial, it only increases over time, making it uneconomic
to delay such an acquisition, particularly when the CPF is available to cover the
purchase. Further, as noted above, the purchase price is below even the lower of the two
appraisals which makes this a better value.
• A substantial portion of prior CPF spending has been accomplished through the use of
debt, not cash. When Lexington first adopted the CPA, the advice of this Committee and
the Appropriation Committee was to seek to fund projects with CPF cash. Debt funding,
if needed, should be minimized and kept to the shortest term practical. To that end, this
Committee urges the CPC to use only Bond Anticipation Notes (BANs), rolled over if
needed—rather than a multi-year Bond which is not callable by the Town—for the debt
portion of the funding. That would allow the debt to be retired at the earliest practical
opportunity that future-year CPF cash availability permits.
• While this Committee unanimously supports the purchase of this land, it must not be
forgotten that the Massachusetts legislature, amended the CPA to expand the definition
of"Open Space" to include "land for recreation uses"—which puts further demands on
the "Open Space" funding. The "Open Space" purposes of acquisition, creation,
preservation without condition, or for rehabilitation and restoration if the land were
acquired or created with CPA funds are equally applicable to land for recreation uses.
This Committee's 5-Year Capital Plan already includes some proposed enhancements to
the Town's recreation capabilities. The recent completion of a thorough analysis of
Lexington's needs and wants for recreation capabilities suggests that there are likely to
be many more recreation projects to which CPF funding could make meaningful
contributions.
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