The Department of Revenue (DOR) has issued their estimate for the CPA Trust Fund distribution this coming November.
Unfortunately, the percentage match will fall to a record low - unless we are successful in convincing the legislature to renew the $25 million in state surplus funding for the trust fund.
Take a look at our first article below for details on the trust fund estimate, and then see article #2 for information on contacting your State Representative and State Senator to advocate for the additional $25 million in funding for CPA.
After doing that, enjoy the rest of the latest CPA news in this edition of CPA Update!
State Announces 23% CPA Trust Fund Match Estimate
In a bulletin released yesterday, the state's Department of Revenue (DOR) announced that CPA communities can expect a 23% first round match of local CPA surcharge revenues this fall. The disappointing estimate is the result of a steep decline in collections at the state's Registries of Deeds over the past few months. Cities and towns with a surcharge of 3% will receive additional funding in rounds two and three, which will result in a higher match for those communities.
You'll want to read our full report on DOR's bulletin, as it contains important additional CPA budgeting information from DOR.
Budget season is underway on Beacon Hill, and the Coalition is strongly advocating for another $25 million from this year's state budget surplus for CPA. We need your help to increase the odds of another robust trust fund distribution in November 2014. Please contact your state legislators and let them know how important CPA is to your community, then ask them to include the transfer of $25 million to the CPA Trust Fund in their state budget priorities.
After a long cold winter, the spring forecast for CPA is looking pretty bright. Six communities will vote on CPA at their Town Meeting in the coming months, and one community will vote to adopt the Act at their spring election.
Rental Assistance programs are one way CPA can help support the housing needs of individuals and families in a community. These programs help close the financial gap for low or moderate income residents who are struggling to secure housing and make regular rent payments. In addition to supporting tenants' financial needs, a rental assistance program can also help communities as a whole by alleviating local housing market instability.
To better understand how rental assistance programs work in conjunction with CPA, Shelly Goehring, Community Preservation Manager at the Massachusetts Affordable Housing Alliance (MAHA), sheds light on the inner workings of Martha's Vineyard's program.
Hundreds of children on the North Shore are the new beneficiaries of a state-of-the-art playground in Hamilton, partly funded by CPA dollars. From 2012 to 2013, community members witnessed the transformation of an old, dilapidated playground designed for children under the age 5, into an updated and expanded outdoor recreation facility containing playground elements for children of all ages.
The use of CPA funds on park rehabilitation projects was made possible by the changes to the Act in 2012's "An Act to Sustain Community Preservation" legislation.
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