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HomeMy WebLinkAbout2005 ATM COMMUNITY PRESERVATION ARTICLES-BERNADETTE Article 15. Report of the Community Preservation Committee and Appropriation From the Community Preservation Fund. To receive the report of the Community Preservation Committee and to see if the Town will vote to raise, borrow and/or appropriate from the Community Preservation Fund, in accordance with the provisions of Massachusetts General Laws Chapter 4413, a sum of money to be spent under the direction of the Community Preservation Committee; or to take any other action relative thereto. DESCRIPTION AMOUNT CATEGORY 1. Affordable Housing Master Plan —"Planned Production Plan" $40,000 Affordable Housing 2. First Time Homebuyer's Program $225,000 Affordable Housing 3. Stevens Estate— Rehabilitation of Gate House $96,500 Historic Resources 4. Stevens Estate — Rehabilitation of Plant House $70,000 Historic Resources 5. Machine Shop Village — Phase 1 $250,000 Historic Resources 6. Administration $5,000 Administrative Ex pens Subtotal — New Appropriations $686,500 7. Open Space — Principal and Interest (FY2006) $1,582,400 Open Space Total FY2006 Appropriations $2,268,900 8. Open Space — Principal and Interest (FY2005) $1,766,637 Open Space GRAND TOTAL: $4,035,537 Petition of the Community Preservation Committee Recommendations: Board of Selectmen:........... To Be Made At Town Meeting Finance Committee:............ To Be Made At Town Meeting FINANCE COMMITTEE EXPLANATION: The Community Preservation Act (CPA) addresses community issues such as acquisition and preservation of open space, creation and support of affordable housing, acquisition and preservation of historic buildings and landscapes, and creation and support of recreational opportunities. The CPA was adopted at a Special Town Meeting in January 2001, and by the voters at the following Town Election in March of the same year. As adopted, it levies a 3% surcharge on property taxes with two exemptions: $100,000 off of the value of each residential property, and property owned and occupied by people who qualify for low-income housing or low- or moderate-income senior housing. State matching funds are disbursed each October for the preceding fiscal year. The CPA must remain in effect for at least five years (FY '02 through FY `06), but the surcharge may be reduced sooner. However, surtaxes must continue until all debt has been retired. The process for revoking or reducing the surcharge is the same as that used for adoption (Town Meeting followed by Ballot Election). The Community Preservation Committee (CPC) annually recommends how funds should be spent or set aside for future spending among the allowable categories of a) open space, b) historic preservation, c) affordable housing, and d) land for recreational use, with a minimum of 10% required in each of the first three categories. In addition, a maximum of 5% may be spent on administrative expenses by the CPC. Town Meeting must either approve or reduce the recommended expenditures, but cannot add to them. As of February 28, 2005, the CPA fund has a balance of $3,767,109 and outstanding loans of $4,571,083 to pay for open space. Through an oversight, the amounts appropriated last year to pay down open space debt were not applied so those amounts are being reappropriated this year for the same purpose. Open Space: The bulk of CPA funds have been appropriated for open space. Paying down debt on these parcels easily meets the annual 10% Open Space spending requirement. Historic Preservation: The next biggest share of CPA funds has been appropriated for a variety of historic preservation projects throughout Town. Affordable Housing: No funds have been spent in this category yet, but we have accumulated a reserve from the annual 10% obligations. Article 16. Preservation Restriction-North Parish Church Academy Road. To see if the Town will vote to authorize the Old Center Historic District Commission, with the approval of the Board of Selectmen, to accept a Preservation Restriction from the North Parish Unitarian Universalist Church of North Andover, located at 190 Academy Road, on terms and conditions deemed to be in the best interest of the Town; or to take any other action related thereto. Petition of the Community Preservation Committee Recommendations: Board of Selectmen:........... To Be Made At Town Meeting FINANCE COMMITTEE EXPLANATION: The May 2004 Town Meeting voted a historical preservation grant from CPA monies in return for a historical preservation restriction. This Article authorizes the finalization of that restriction.