The Community Preservation Act (CPA) is designed to help Massachusetts cities and towns create affordable housing, preserve open space and historic sites, and develop outdoor recreational opportunities.
CPA funds are generated by a small surcharge on local property tax bills matched by a statewide trust fund to maximize their impact. Over 160 cities and towns have already used the CPA to unlock hundreds of millions of dollars in matching funds from the state.
If adopted, Boston could unlock tens of millions of dollars in state funds. These funds will be used to fund the three following areas: ● Increase affordable housing ● Invest in parks & recreation ● Create new jobs by expanding historic preservation
The Yes for a Better Boston Committee, recommends a 1% property tax surcharge, with exemptions for low-income homeowners, low-and-moderate-income senior homeowners, and for the first $100,000 of residential and business’ property value. The average single family homeowner would pay an average of $24 per year, and in turn, the city would generate up to $20 million every year for CPA projects. These dedicated funds would:
- Create thousands of new, affordable homes for seniors, families, and veterans
- Restore and preserve historic buildings, and rehabilitate underutilized resources
- Develop and improve parks, playgrounds, trails, and gardens
- Acquire land to protect water quality and reduce climate change impacts
For more info, visit www.yesbetterboston.com
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