Community Preservation Act Update

Community Preservation Act (CPA) Funds come from a 3% property tax surcharge that is matched with state funds from a real estate transaction stamp tax.  The Act requires funds be used on Affordable Housing, Historic Preservation, and Open Space preservation initiatives in Massachusetts communities with a minimum of at least 10% of funds going to each of these three categories.  At the April 2004 Special Town Meeting, Provincetown voters ratified the CPA and voted to direct the uncommitted 70% of funds to finance affordable housing. The voters at the November 2008 Special Town Meeting amended that breakout to 10% in each category with 70% uncommitted and available for any category. At each Annual Town Meeting since 2005, voters have approved using CPA funds as detailed below.  Given the projected debt service for prior approved projects and the limited available state matching funds [estimated at 25% for the next round and 0% thereafter], the Community Preservation Committee limited funds for the current grant awards to a maximum of $300,000. So, while it may look like we have a lot of funds in hand, those funds will be needed to pay off future debt service.

According to the Community Preservation Act legislation, MGL Ch. 44B, Sec. 6, “Funds that are set aside shall be held in the Community Preservation Fund and spent in that year or later years, but funds set aside for a specific purpose shall be spent only for the specific purpose.” 

• Dorothy Palanza, Chair Board - Term Ends 6/30/16
• Barbara Prato, Conservation - Term Ends 6/30/13
• Eric Dray, Historical - Term Ends 6/30/16
• Nancy Jacobson, Housing - Term Ends 6/30/13
• Ann Maguire, Community Housing - Term Ends 6/30/16
• Stephen Milkewicz, Open Space - Term Ends 6/30/13
• Susan Cook, Recreation - Term Ends 6/30/13
• James Hall, At Large - Term Ends 6/30/13
• Judith Cicero, At Large - Term Ends 6/30/13