Description
The Community Preservation Act (CPA) Committee will will hold a virtual public hearing to receive public comment on the funding allocation percentages for Affordable Housing, Open Space / Recreation, and Historic Preservation projects eligible for Community Preservation Act funding in FY25. Each year, the City of Cambridge is required to allocate at least 10% of its annual CPA revenue to each category. The remaining percentage can be used towards any of the three funding categories.
Registration Link for Zoom Meeting: https://cambridgema.zoom.us/webinar/register/WN_1iH_dHMgQE2VC56XEQKneA
CPA Meeting Agenda
Wednesday, July 31, 2024, 5:30 p.m.
- Introduction and Overview of CPA Process
- Review & Adopt Minutes
- Public Comment on CPA Allocation Percentages
- Project Applications and Comments Received
- Committee Discussion
View Agenda as a PDF File
Background
The Community Preservation Act (CPA) was created by state law (G.L. c. 44B) to help cities and towns preserve the character of their community. In 2001, Cambridge residents voted to adopt the CPA locally, which allowed the City of Cambridge to implement a 3% surcharge on Property Tax bills to fund eligible projects.
The Commonwealth of Massachusetts provides "matching" funds in addition to those raised locally by the surcharge. The percentage of the state match varies from year to year, depending on two factors: the amount of fees paid at Registries of Deeds throughout the state, and the number of communities that have adopted the CPA locally (thereby receiving a share of the state match).
Additional information is available on the CPA Committee website, Cambridgema.gov/cpa