Commentary: State Should Support Better Community Preservation Act

Check out this commentary at  by Rick Holmes, opinion editor of the MetroWest Daily News and member of Upton's Community Preservation Committee.  He urges support for SB90: An Act to Sustain Community Preservation.  Here is an excerpt:

But there’s a problem with the CPA. The state contribution was never guaranteed to be a dollar-for-dollar match, but for the first seven years, it worked out that way. The CPA Trust Fund benefited from an unexpected development: The home refinancing rush in the first years of this decade resulted in more real estate registry fees than anticipated. With the real estate bust, that revenue stream slowed to a trickle. The CPA has also been a victim of its success, with more and more communities drawing on the state match.

As a result, the state match has shrunk. The state announced last week that the average state CPA match will be just over 40 percent. The state projects that next year’s match could be as low as 28 percent.

Click here for my recent article on SB90 in New England Planning News, "Viewpoint by Jennifer Goldson."