The Sudbury Community Preservation Committee (CPC) proudly announces that it has again received a 100% match from the state for funds raised under the Community Preservation Act (CPA). Sudbury was one of the top ten such grants issued. Based upon Sudbury’s FY ’07 CPA surcharge revenue, the state funding comes to $1,307,615, an increase of $58,800 over last year. These funds are part of the roughly $68 million that the Massachusetts Department of Revenue distributed on October 10th to the 113 communities currently participating in the CPA. The average grant was $602,000. Of the top ten grants, only one other went to a town of similar size (Weston). Not every town receives a 100% match, which doubles the funds available for current and future projects in the categories of open space, historic preservation, community housing, and recreation.
This is the 5th year that Sudbury has received a 100% match, effectively discounting by 50% the cost to the town of the 27 CPA projects approved by Town Meeting since the program’s inception.
Projects for funding at the 2008 Annual Town Meeting are currently under review by the committee, with public hearings scheduled in October and November. From the beginning, the CPC has been conservative in estimating its revenues, and has “banked” a substantial portion of its funds to insure that monies will be available for future projects.