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Article 17 - Recommendations of the Community Preservation Committee - FinCom Pres 3-8-23 pdf file
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Source page 1
Community Preservation Committee
FY 24 FUNDING REPORTSource page 2
Fiscal Year Surcharge Revenue ESTIMATED Surcharge Revenue ACTUAL
FY2014 $480,000.00 $480,993.57
FY 24 FY2015 $490,000.00 $491,959.51
Estimated FY2016
FY2017
$500,000.00
$500,000.00
$520,788.81
$545,946.62
Revenue FY2018 $500,000.00 $581,951.58
FY2019 $500,000.00 $613,699.65
Local Surcharge FY2020 $550,000.00 $619,735.77
FY2021 $600,000.00 $684,473.45
FY2022 $625,000.00 $711,659.16
FY2023 $733,000.00* --
FY2024 $755,000.00* --
FY23 & FY24 Estimates recommended by Finance
Director.Source page 3
STATE LIENS /
FY 24 ACTUAL
FY
2019
CPA TAX
613,700
STATE MATCH
110,487
% of TAX
18.00%
INTEREST
28,746
PENALTIES
3,778
TOTAL
756,710
Estimated ACTUAL
ACTUAL
2020
2021
619,736
684,473
147,419
181,402
23.79%
26.50%
27,169
9,499
3,380
7,025
797,703
882,400
Revenue ACTUAL 2022
ESTIMATE 2023 EST.
711,659
705,008
299,178
287,347
42.04%
40.76%
10,016
10,000
3,727
3,000
1,024,580
1,005,355
ORIGINAL 3.00%
All Revenue Sources ESTIMATE 2023 EST. 733,009 216,480 29.53% 10,000 3,000 962,489
REVISED 3.00%
ESTIMATE 2024 EST. 754,999 135,926 18.00% 10,000 3,000 903,925
3.00%Source page 4
Fiscal Year State Match State Match
ESTIMATED ACTUAL
FY2014 $0.00 $0.00
FY 24 FY2015 $110,000.00 $153,822.00
Estimated FY2016
FY2017
$100,000.00
$100,000.00
$145,336.00
$108,001.00
Revenue FY2018 $100,000.00 $94,671.00
FY2019 $100,000.00 $110,487.00
FY2020 $100,000.00 $147,419.00
State Distribution FY2021 $100,000.00 $181,402.00
FY2022 $100,000.00 $299,178.00
FY2023 $126,900.00 $275,006.00
FY2024 $135,900.00 --
FY23:
Original state match distribution in November 2022 was
$216,480 (a 30.4% match)
In January 2023 there was a second distribution from the $20
million state surplus signed to CPA by Governor Baker of
$58,526, bringing total match to 38.6%Source page 5
FY 24 Estimated Revenue
+
FY 24 Estimated Rollover Funds from FY23
Total Funds (funds not appropriated to projects and surplus funds from
completed projects and administrative budget)
Available for =
Appropriation CPA Funds Available for FY24
$903,925
+ $604,809
$1,508,734Source page 6
Bonds Principal Annual Debt
Fiscal Year Outstanding Payment Bond Interest Service
2019 $1,849,000
FY 24 2020 $1,849,000 $186,000 $85,090 $271,090
Debt Service 2021 $1,663,000 $186,000 $75,790 $261,790
Obligation 2022 $1,477,000 $185,000 $66,490 $251,490
2023 $1,292,000 $185,000 $57,240 $242,240
Paul Revere 2024 $1,107,000 $185,000 $47,990 $232,990
Heritage Site 2025 $922,000 $185,000 $38,740 $223,740
Acquisition & 2026 $737,000 $185,000 $29,490 $214,490
Improvements 2027 $552,000 $184,000 $20,240 $204,240
2028 $368,000 $184,000 $11,040 $195,040
2029 $184,000 $184,000 $7,360 $191,360
TOTALS $1,849,000 $439,470 $2,288,470Source page 7
The CCPC voted (in accordance with CPA statutes) to
not recommend any new projects for funding in
FY24. All funds from FY24 will roll over into FY25.
FY24 Project
The CCPC will recommend reserving funds to each of
Funding Pause the 3 buckets (categories) as outlined in Section 6 of
the CPA legislation:
"the legislative body shall spend, or set aside for later spending, not
less than 10 per cent of the annual revenues in the Community
Preservation Fund for open space, not less than 10 per cent of the
annual revenues for historic resources and not less than 10 per cent of
the annual revenues for community housing.”
Motion 1: $45,196 (5% of estimated budget) for
FY 24 administrative expenses
Annual Town Motion 2: $90,393 (10% of estimated budget)
reserved to each of the 3 buckets:
Meeting ◦ Open Space/Recreation
◦ Historical Resources
Motions ◦ Community Housing
Motion 3: $232,990 For Debt ServiceSource page 8
COUNTY OF NORFOLK
COUNTY OF PRESIDENTS
REGISTRY OF DEEDS
NORFOLK REGISTRY DISTRICT OF THE LAND COURT
WILLIAM P. O'DONNELL
REGISTER OF DEEDS
ASSISTANT RECORDER OF THE
LAND COURT
Dear Town Meeting Member,
The fees for the Community Preservation Act are set by the State Legislature on land documents
recorded here at the Norfolk County Registry of Deeds. I thought the chart on the reverse side would be
of interest to you. It provides an illustration of the funds generated by the Community Preservation Act
(CPA) in your community based on recorded real estate filings for that community during the 2022
calendar year.
The Community Preservation Act was signed into law on September 14, 2000. Today there are
194 Massachusetts communities that have adopted this act. Of the 28 communities that make up Norfolk
County, 19 communities have adopted the law. As of December 31, 2019, fees collected for the
Community Preservation Act were increased to $50.00 for most land documents recorded and $25.00 for
municipal lien certificates. The Registry of Deeds, at no additional cost to the Commonwealth or local
communities, collects these revenues once a land document is recorded and forwards the monies to the
Massachusetts Department of Revenue on a monthly basis. The funds forwarded to the Commonwealth
are then redistributed back to the communities that have adopted the Community Preservation Act.
The Norfolk County Registry of Deeds which is located at 649 High Street, Dedham, is the
principal office for real property in Norfolk County. The Registry is a resource for homeowners, title
examiners, mortgage lenders, genealogists, municipalities and others with a need for secure, accurate,
accessible land record information. For assistance, please contact our Customer Service Center at (781)
461-6101, or visit our website at www.norfolkdeeds.org.
I hope you find this data to be informative and helpful. In the meantime, if I can be of assistance
to you, please do not hesitate to contact me at 781-461-6116 or by email at
registerodonnell@norfolkdeeds.org. I wish you a happy and healthy 2023. Be well. Be safe.
Sincerely yours,
fut Genre
William P. O’Donnell
Norfolk County Register of Deeds
WPO/rg
649 HIGH STREET, DEDHAM, MASSACHUSETTS 02026
TELEPHONE: 781-461-6116 FAX: 781-326-4246
EMAIL: registerodonnell @norfolkdeeds.org
www.norfolkdeeds.org
aD I50
facebook.com/NorfolkDeeds V twitter.com/NorfolkDeeds —_Youf{fllif) youtube.com/NorfolkDeeds
Linked ‘in| linkedin.com/company/Norfolk-County-Registry-of-Deeds © @NorfolkDeedsSource page 9
NORFOLK COUNTY REGISTRY OF DEEDS COMMUNITY PRESERVATION ACT (CPA) SURCHARGES BY TOWN FOR CALENDAR YEAR 2022 TOWN TOTAL AVON $44,675.00 BELLINGHAM $157,250.00 ~ BRAINTREE $243,450.00 BROOKLINE $359,250.00 CANTON COHASSET DEDHAM $191,825.00 DOVER $59,400.00 FOXBOROUGH FRANKLIN HOLBROOK MEDFIELD MEDWAY $112,750.00 MILLIS $86,175.00 MILTON NEEDHAM NORFOLK $99,300.00 NORWOOD $184,975.00 | PLAINVILLE $71,050.00 QUINCY $528,000.00 RANDOLPH $233,800.00 SHARON $136,800.00 STOUGHTON $224,400.00 WALPOLE $189,500.00 WELLESLEY $222,225.00 WESTWOOD $122,875.00 — WEYMOUTH $426,750.00 WRENTHAM $110,325.00 Additional CPA Letters Provided for Distribution at Next Town Meeting