Transcript Document
The Community Preservation Act
Raynham – March 9, 2004
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What is the CPA and how does it work?
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What does the CPA mean for Raynham?
The benefits of the CPA Questions and answers
The Community Preservation Act
Allows communities to establish a dedicated fund for
:
Open Space Historic Preservation Affordable Housing
Basics of the Act
• Local adoption needed • Establishes up to a 3% surcharge on local property taxes • Requires 10% of monies to be spent on each of the 3 categories • Allows flexibility for the remaining 70% in each of the 3 categories • Establishes a Community Preservation Committee
Exemptions to the CPA
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First $100,000 of property value
– exempts the first $100,000 of residential property value from the surcharge.
Low-moderate income
– exempts any household that earns less than 80% of area median and any senior (60+) who earns up to 100% of the median.
Maximum Incomes for Exemption Seniors (residents over 60) Low income residents One person in household Two people in household Four people in household $51,030 $40,824 $58,320 $46,656 $72,900 $58,320
What does that mean for the taxpayer?
Median Assessed Home Value * With $100,000 exemption Net House Value Surcharged Municipal Tax Rate (per $1000) Amount Subject to Surcharge CPA Surcharge Rate Amount paid toward CPA Fund $198,000 $100,000 $98,000 $ 9.67
_______ $948 2% _______ $19 Based on this scenario, $19 would be paid into the Community Preservation Trust Fund annually
Raynham CPA Revenue and Surcharge Scenarios Surcharge 1.0% 2.0% 3.0% 1.0% 2.0% 3.0% Cost Amount Raised With First $100,000 Exemption
$ 9 $ 112,890 $ 19 $ 28 $ 225,779 $ 338,669
Without First $100,000 Exemption
$ 19 $ 38 $ 57 $ 148,195 $ 296,389 $ 444,584
Amending or Repealing the CPA
• The CPA must remain in place for at least five years. • After five years the Act can be repealed at any time using the same procedures available for passage of the Act. • Amendments to the surcharge percentage or the authorized exemptions can be made at any time using the same procedures available for passage of the Act.
Potential Uses of CPA Funds
CPA Housing
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For families and individuals earning up to 100% of area median ($72,900 for a family of four).
Units count under 40B so long as inhabitants earn less than 80% of median.
Other features: requires a permanent deed restriction Subject to zoning Local CPC screens and recommends projects; legislative body makes appropriations.
Historic Preservation
Community Preservation funds may be used for acquisition, preservation, rehabilitation or restoration of a building(s) or real property that:
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has been determined by the local historic preservation commission to be significant in the history, archeology, architecture or culture of a city or town; or
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is listed or eligible for listing on the state register of historic places
Historic Preservation
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Restoration of historic municipal
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properties
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Adaptive reuse Capital improvements to existing sites Reversal of historically inappropriate
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alterations
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Environmental mitigation Signage Grants to private non-profit groups, or individuals with a preservation easement
Open Space Open Space
Community Preservation funds may be used to purchase land, easements or restrictions to protect: 1. Existing and future water supply areas, 2. Agricultural, forest or coastal lands, 3. Frontage to inland water bodies, 4. Wildlife habitat, 5. Nature preserves, and 6. Scenic vistas. Also, land can be purchased for : 1. Active and passive recreational uses, 2. Community gardens, 3. Trails, 4. Non-commercial youth and adult sports 5. Use of land as a park, playground or athletic field.
Active/Passive Recreational Uses
Athletic Fields
Community Preservation Committee
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Membership: (one from each)
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Conservation Commission Historic Commission Planning Board Board of Park Commissioners Housing Authority
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Bylaw or Ordinance specifies:
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Method of selection
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(elected, appointed)
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Length of term
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Number of members (5-9 )
State Matching Funds
Commissioner of Revenue Disburses Match (October 15th) FY 2002 $17.8 Million Match Distribution FY 2003 $27.2 Million Match Distribution
16000000 14000000 12000000 10000000 8000000 6000000 4000000 2000000 0
Community Preservation Act Funding in FY 2002-2004
Recreation Historic Open Space Housing FY 2002 FY 2003 FY 2004