HomeMy WebLinkAbout2010-01-19-CEC-min Capital Expenditures Committee (CEC) Meeting, January 19, 2010, 8 00 AM, Town Office Building,
Room 111
Members Present: David Kanter, Ted Edson (Vice-Chair), Charles Lamb (Chair), Shirley Stolz, &
Bill Hurley
Others. David Horton(Lexington's Member on the Minuteman Regional Vocational Technical School
District [MMRVTSD] School Committee), Edward Bouquillon (Superintendent, MMRVTSD),
George Burnell (Selectman), & Bill Hays (LexHAB)
Discussion of MMRVTSD Capital Request to Borrow for a Renovation Feasibility Study
Original request was $1 1M, but that will be reduced to something more like $700K to $800K.
Massachusetts School Building Authority(MSBA)will pick up 40% Lexington's share would be
16%, so net is about $80K to Lexington. No FY2011 impact; only FY2012 They are looking for the
100% approval from all of the District's towns that is required for this effort to proceed.
MSBA has agreed to change the 60-day approval window (for all towns) to 120 days. The MMRVTSD
School Committee vote will be in March.
A more realistic number for the construction cost is $40-$50M project cost (before MSBA financing)
Discussion of LexHAB Request for Community Preservation Act Funds.
They have already purchased a 2-bedroom unit at 142 Emerson Gardens for $295K and a 3-bedroom
unit at 454 Marrett Rd for $400K and are requesting that $695K total. This year they are requesting
100% of the purchase price to eliminate LexHAB's obligation under the 100% mortgages they have
been issued, whereas in previous years they requested the funds needed to retire what had been 80%
mortgages.
Adjourn. 9 30 AM
These Minutes were approved by the CEC at its meeting on April 28, 2010