Community Preservation Committee Receives State Match of Funds
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The Sudbury Community Preservation Committee proudly announces that it has again received a 100% match from the state for funds raised under the Community Preservation Act (CPA). Based upon Sudbury’s FY ’05 CPA surcharge revenue, the state funding comes to $1,105,972. These funds are part of the roughly $49 million that the Massachusetts Department of Revenue will begin distributing on October 15th to the 75 communities in Massachusetts currently participating in the CPA. 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 3rd year that Sudbury has received a 100% match, effectively discounting by 50% its expenses in land acquisition, soccer field construction and other projects. Last year the Community Preservation Committee (CPC) recommended funding for projects in all four of the eligible categories, and the entire slate of projects received approval at the ’05 Town Meeting in April.
The CPC is anticipating several proposals in response to its current Request for Proposals, the deadline for which is October 17, 2005. For an application, Click Here. New projects will be reviewed by the Committee this fall in anticipation of the April 2006 Town Meeting. The CPC has been conservative in estimating revenues and has “banked” a portion of its funds each year for potential future projects. About $1 million in local surcharge revenue is expected in FY ’06, and the CPC anticipates receiving another 100% state match in October, 2006