the community preservation act in kingston. open space historic preservation affordable housing...
TRANSCRIPT
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The Community Preservation Actin Kingston
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Open Space
Historic Preservation
Affordable Housing
Allows communities to establish a dedicated fund for:
The Community Preservation Act
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MAP
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Basics of the ActBasics 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
• Includes matching funds!
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Exemptions to the CPAExemptions to the CPA
• 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.
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Maximum Incomes for ExemptionMaximum Incomes for Exemption
One person in
household
Two people in
household
Four people in household
Seniors (residents over 60)
$57,820 $66,080
Low-income residents
$46,256 $52,864 $66,080
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What does that mean for the taxpayer?What does that mean for the taxpayer?
Median Assessed Home Value $335,000* With $100,000 exemption $100,000Net House Value Surcharged $235,000Municipal Tax Rate (per $1000) $ 10.95
_______Amount Subject to Surcharge $2573CPA Surcharge Rate 2%
_______Amount paid toward CPA Fund $51
Based on this scenario, $51 would be paid into the Community Preservation Trust Fund annually
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Kingston CPA Revenue and Kingston CPA Revenue and Surcharge ScenariosSurcharge Scenarios
Surcharge Cost Amount Raised
With First $100,000 Exemption
1.0% $ 26 $ 121,756
2.0% $ 51 $ 243,513
3.0% $ 77 $ 365,269
Without First $100,000 Exemption
1.0% $ 37 $ 163,169
2.0% $ 73 $ 326,339
3.0% $ 110 $ 489,508
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State Matching FundsState Matching Funds
• Matching funds come from State CPA Trust Fund
• Trust Fund is funded by fees at Registry of Deeds
• Every town pays these fees, even if don’t adopt the CPA
• Match is paid every October to match local revenue
• This October, $31.4 million will be paid out.
• This will leave more than $100 million in the fund.
• 100% match will last at least another 4-7 years.
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Your Neighbors’ State MatchYour Neighbors’ State Match2002-20042002-2004
• Cohasset $706,896• Duxbury $2.7 million• Hingham $1.4 million• Marshfield$1.9 million • Norwell $1.05 million• Plymouth $1.03 million • Scituate $2.1 million• Wareham $693,682
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Amending or Repealing Amending or Repealing the CPAthe 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.
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Potential Uses of CPA FundsPotential Uses of CPA Funds
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Open SpaceOpen Space
Community Preservation funds may be used to:
1. Purchase land 2. Purchase easements or restrictions on land 3. Protect drinking water 4. Protect nature preserves 5. Restore polluted land to its natural state 6. Protect farms and farmland - APR
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RecreationRecreation
Also, land can be purchased for :
1. Active and passive recreation 2. Community gardens, 3. Trails, 4. Non-commercial sports 5. Parks, playgrounds or athletic fields.
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CPA HousingCPA Housing
• For families and individuals earning up to 100% of area median:– $82,600,000 for a family of four– $66,080 for a couple– $57,820 for 1 person
• CPA Housing is different than 40B:– Subject to local zoning– Approved locally– Permanently affordable
• Units count under 40B so long as inhabitants earn less than 80% of median.
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Historic PreservationHistoric Preservation
Community Preservation funds may be used for acquisition, preservation, rehabilitation or restoration of a building(s) or real property that:
• 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
• is listed or eligible for listing on the state register of historic places
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Historic PreservationHistoric Preservation
• Restoration of historic municipal properties• Adaptive reuse• Environmental mitigation• Grants to private non-profit groups, or individuals with a preservation easement
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Community PreservationCommunity Preservation Committee Committee
• Membership: (one from each)
– Conservation Commission– Historic Commission– Planning Board– Board of Park Commissioners– Housing Authority– Up to 4 additional members
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Community Preservation Act Funding in FY 2002-2005
$-$2,000,000
$4,000,000$6,000,000
$8,000,000$10,000,000
$12,000,000$14,000,000
$16,000,000$18,000,000
$20,000,000
FY 2002 FY 2003 FY 2004 FY 2005
Recreation
Historic
Open Space
Housing
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CPA MilestonesCPA Milestones
• 65 Adopting Communities
• 10 Communities voting in 2004
• More than $120 million appropriated so far
• More than 600 units of housing created
• More than 4,000 acres of open space protected
• More than 160 historic sites preserved
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For Further InformationFor Further Information
www.communitypreservation.org