Description
The Community Preservation Act (CPA) Committee will meet virtually to discuss the annual allocation process.
Registration Link for Zoom Meeting: https://cambridgema.zoom.us/webinar/register/WN_uGoauRCzRvWm6QC9V25sSg
Agenda:
1. Summary of Cambridge CPA Process and history
2. Review and Adopt Minutes
3. Presentation by Community Preservation Coalition
4. Committee Discussion
5. Public Comment
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).
Each year, the City of Cambridge is required to spend at least 10% of its annual CPA revenues on each category – open space, historic preservation, and community housing. The remaining percentage can be used towards any of the three funding categories.
Additional information is available on the CPA Committee website, Cambridgema.gov/cpa