HomeMy WebLinkAbout2012-05-16-CEC-minMinutes of the Lexington Capital Expenditures Committee (CEC) Meeting
Date, Place, and Location: May 16, 2012 7:15 P.M., Cary Memorial Building, Ellen Stone
Room
Members Present: Charles Lamb, Chair; Ted Edson, Vice - Chair; Shirley Stolz;
David Kanter
Member Absent: Bill Hurley
Call to Order: Mr. Lamb called the meeting to order at 7:15 P.M.
Community Preservation Fund Cash Appropriation for Wright -Farm Land Purchase
(2012 Annual Town Meeting Article 9)
The Committee discussed the advice received that the estimated amounts for the four
incidental costs associated with the purchase ($97,000) and the FY2013 interest for the
initial bond anticipation note (BAN) ($15,000) included in the Committee's Supplement to
the Report to the 2012 Annual Town Meeting had increased. The former is now at
$122,000 because of an increased estimate for the legal - related work; the latter is now at
$37,000 to be sufficient if there's a closing earlier than the late November or
December 2012 previously presumed.
It was moved and seconded that the Committee support the new component amounts of
$122,000 and $37,000 for Community Preservation Fund cash under Article 9 —and,
therefore, the new total of $159,000. Vote: 4 -0
Approval of Minutes
Mr. Kanter read the Minutes that he had completed during this meeting for this meeting. It
was moved and seconded that those Minutes, to include the subsequent time of
adjournment, be approved. Vote: 4 -0
Adjourn: A Motion was made and seconded at 7:21 P.M. to adjourn. Vote: 4 -0
These Minutes were approved by the CEC at its meeting on May 16, 2012.
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