The Community Preservation Act (CPA) is a Massachusetts state law (M.G.L. Chapter 44B) passed in 2000. It enables adopting communities to raise funds and establish a local dedicated pool of funds for the purpose of undertaking open space, historic preservation, outdoor recreation and community housing projects. CPA is financed by a voter-approved property tax surcharge along with matching funds from the statewide CPA Trust Fund. The CPA Trust Fund provides annual matching funds, distributed according to a formula that ranges from 5% to 100% of what is raised locally. Recording fees at the State’s Registries of Deeds fund the CPA Trust Fund, along with any additionally authorized funding sources, such as funds from the State’s budget surplus. CPA was adopted by Salem voters in November, 2012. This initiative has leverage over $3.8 Million in the last five years (2017). North Shore CDC uses this program to acquire and rehabilitate many of it’s projects.
Community Preservation Act