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The Community Preservation Act (CPA)
A State Law that towns can adopt locally:
Protect LandPreserve Historical Resources
Create/support Affordable HousingRecreational Opportunities
State MatchFY2004: $504,055FY2005: $534,732FY2006: $559,835FY2007: $634,135FY2008: $674,434FY2009: $541,215FY2010: $311,164FY2011: $247,788
FY2012: $255,874
TOTAL MATCH FROM STATE: $4,263,232
CPA Fund Balance: $5.9M in available funds
New Legislation
• Allows use of CPA funds to rehabilitate existing recreation properties
• Allows Affordable Housing assistance to Individuals that qualify
• Allows exemptions for commercial properties (Article 43)
• State CPA Trust Fund to have an additional $25M per year; double our annual state match
New Seniors Small Grant Program
• Funded with CPA Money• Available to Norwell Residents age 60 and older who plan to stay in home for next 12 months• Home assessed at $534,000 or less• Average Grant will be about $2500, but any need will be considered
*Other tax relief is available for Seniors – Contact the Assessor’s Office at Town Hall
Impact on Surcharge Reduction or Revocation
• CPA exemptions available to low income residents and moderate income seniors
• Average home value is $543,000
*Projected figures based on FY13 tax information
3% 1% Revocation
Local Surcharge Revenue* $872,695 $296,437 0
Average Home pays $210 $70 0
Estimated State match ~$500,000 ~140,000 0
Total into CPA Fund ~$1.4M ~$436,000 0
Impact on Surcharge Reduction or Revocation
• CPA exemptions available to low income residents and moderate income seniors• Average home value is $543,000
*Projected figures based on FY13 tax information
3% 2% 1%
Local Surcharge Revenue* $872,695 $581,052 $296,437
Average Home pays $210 $140 $70
Estimated State match ~$500,000 ~280,000 ~140,000
Total into CPA Fund ~$1.4M ~$861,000 ~$436,000