Description
The Community Preservation Act (CPA) Committee will hold a Public Hearing on project proposals from the public and City staff in the areas of housing, open space, and historic preservation.
The Community Preservation Act (CPA) was created by a state law (MGL Chapter 44B) to help cities and towns preserve the character of their community. In 2001, Cambridge residents voted to adopt the CPA which allowed a 3% surcharge on Property Tax bills to fund affordable housing, open space, and historic preservation projects.
The Commonwealth of Massachusetts provides "matching" funds in addition to those raised locally by the surcharge. The percentage of the state "match" will vary from year to year, depending on the number of participating communities and fees paid at the Registry of Deeds.
Each year, at least 10% of annual CPA revenues shall be spent or set aside for later spending on open space, historic preservation and community housing. The remaining percentage can be used towards any of the three funding categories.
For more information, visit CambridgeMA.gov/CPA.