Canton, Massachusetts · Saved source text

Article 17 - ATM Recommendations of the CCPC to Annual Town Meeting on 5-8-2023 pdf file

Town Meeting · Record date 2023-05-08 · Record b1e22de7e508bab7f2

Saved text from 8 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.

COMMUNITY PRESERVATION
     IN CANTON

CPA Overview
 The Community Preservation Act provides funding for projects in 3
  categories (“buckets”):
   Historic Preservation
   Open Space/Recreation
   Community Housing
 In accordance with CPA law, because the Committee is not
  recommending any new projects for funding in FY24, the town is
  obligated to reserve 10% of the projected FY24 revenue to each of
  the buckets. 5% is also reserved each year for administrative
  expenses, and any debt service is to be paid.

CPA Estimated 2024 Revenue
         CPA Revenue   State Match    Total Revenue
         $767,999      $135,926       $903,925



 10% to 3 buckets (historical resources, community housing,
  open space/recreation) = $90,392.50 each.
 5% reserved for Administrative Expenses = $45,196.25

CPA Revenues
Fiscal Year          CPA Revenue   State Match   Total Revenue
2014                 $481,871      $0            $481,871
2015                 $497,772      $153,822      $651,594
2016                 $528,130      $145,336      $673,466
2017                 $557,636      $108,001      $665,637
2018                 $607,948      $94,671       $702,619
2019                 $646,223      $110,487      $756,710
2020                 $650,284      $147,419      $797,703
2021                 $700,998      $181,402      $882,400
2022                 $725,402      $299,178      $1,024,580
2023 (as of April)   $589,715      $275,006      $864,721
Total:               $5,985,979    $1,515,322    $7,501,301

TOWN MEETING ALLOCATION BY BUCKET
        FY 2014 to FY 2023
                      Administrative
                          3%
       Debt Service
          17%                                            Historic
                                                          26%
                                                                    Historic
                                                                    Open Space/Recreation
  Housing                                                           Housing
   11%
                                                                    Debt Service
                                                                    Administrative


                                 Open Space/Recreation
                                         43%

Fiscal Year        Project $   Debt Service    Administrative         Total
                                              Allocated
                          2014           $0               --             $5,251              $5,251
CPA Funding Allocations



                          2015           $340,150         --             $12,100             $352,250
                          2016           $544,586         --             $14,393             $558,980
                          2017           $261,565         --             $11,321             $272,886
                          2018           $989,175         --             $14,841             $1,004,016
                          2019           $467,000         --             $12,700             $479,700
                          2020           $605,108         $271,090       $16,950             $893,148
                          2021           $987,827         $261,790       $20,874             $1,270,491
                          2022           $863,828         $251,490       $24,616             $1,139,934
                          2023           $911,519         $242,240       $41,595 Estimated   $1,195,354
                          2024 Projected $0               $232,990       $45,196 Estimated   $278,186
                          Total:         $5,970,758       $1,259,600     $219,837            $7,450,195

Debt Service Payment for
    Paul Revere Heritage Site
                     Town Meeting voted to purchase
                    property at 2015 Town Meeting and
                    improve the property at 2018 Town
                                 Meeting.

                     CPCC pays through a 10-year bond
                          which began in FY 2020.
                    Currently obligated to allocate funds
                          for 5th of 10 payments.

CCPC FY24 Funding Obligation: $232,990

CPA Available Funds & FY25 Projection
                                 Available funds at end of FY23
                     + Projected revenue for FY24 & FY25
       - FY24 & FY25 Expenses (Administrative and Debt Service)
   ______________________________________________________________________________________________________________________________________________________________________




          = Estimated $1,989,712 available
for project funding in Fiscal Year 2025 (voted on at town
                      meeting in May of 2024)
     (pre-applications for FY25 projects due AUGUST 18th, 2023)