Community preservation match rate hits 52%

Community Preservation Act communities across Massachusetts have received the highest state match since 2008 due to the rebounding real estate market and $25 million in surplus state funds allocated to the Community Preservation Trust Fund under last year’s state budget act.

Nearly $55 million was distributed to the 148 CPA communities, double the amount of last year’s match in the first round.

This year’s matching rate of 52.2 percent represents a dramatic turnaround. Distribution amounts from the CPA Trust Fund to communities declined precipitously in recent years due to the decline of the real estate market. The average CPA match had fallen from a high of 100 percent to last year’s 22 percent.

The Community Preservation Act, signed into law in 2000, allows adopting municipalities to place a surcharge of up to 3 percent on real property in order to create a local dedicated fund for the four CPA purposes: open space preservation, historic preservation, outdoor recreation, and affordable housing.

Last year’s legislation also gave the 148 participating communities more flexibility for allocating CPA funds. The funding can now be used, for example, for renovating parks and recreational facilities, whereas previously, only new open space-related projects were eligible.

Communities that adopt the CPA with a minimum 1 percent property tax surcharge are now allowed to use other sources of municipal revenue to boost the amount of money qualifying for the annual statewide CPA Trust Fund match.

Recording fees collected by the state’s registries of deeds flow to the CPA Trust Fund.