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r <br /> Treasurer Zeman responded that$10 million in new market value would bring$150,000 <br /> annually per year to the schools. He stated that while this amount is significant that it is not a <br /> game changer. He also noted that the new housing could result in additional costs to the <br /> district if they attract many more families with children. <br /> Mr. Favre added that family-friendly housing would be welcome so that the schools can <br /> maintain their breadth of offerings and staff levels. <br /> Ms. Shaughnessy and President Beebe remarked that the increasing cost of properties and <br /> rent are putting a strain on the system's low income families, some of which must relocate in <br /> the middle of the school year to find more affordable housing. <br /> Mayor Summers and Treasurer Zeman briefly discussed state funding formulas as they relate <br /> to the school district. <br /> Mayor Summers reported to the Board that the City is working to establish a Youth Council <br /> by first setting up a Youth Council Planning Task Force. He discussed the applications the <br /> City received and the work ahead of the Task Force. The Task Force is set to meet this Wed. <br /> Motion made by School Board President Beebe, seconded by Vice President Barcelona to <br /> adjourn the School Board meeting. <br /> All members voted in favor. Motion passed. <br /> Motion made by Council President O'Leary, seconded by Councilmember Rader to adjourn <br /> the City Council meeting. <br /> All members voted in favor. Motion passed. <br /> Lakewood Board of Education and Lakewood City Council adjourned at 8:07 p.m. <br /> Approved: � � . <br /> CLERK <br /> dt <br /> 5 <br />