Seldom does a report contain such encouraging information as did the one released last week by the Community Preservation Coalition.
When the Community Preservation Act became a Massachusetts law in September 2000, Banker & Tradesman had high hopes that affordable housing would be a major beneficiary. We also had some concerns, most notably about where and in what proportions money raised through the new law would be spent.
The CPA allows cities and towns to dedicate up to 3 percent of their local property taxes, augmented by matching state funds, for affordable housing, land preservation, historic preservation and public recreation. Given the number of communities, especially in the suburbs, that have resisted housing development, we feared that open-space spending would greatly outstrip money earmarked for housing projects.
In the first fiscal year of spending, 2002, such concerns seemed justified, as CPA money was spent on land preservation at nearly double the pace of housing. In FY2003, those results were reversed, and nearly equal amounts were directed toward the two areas in the following year. According to the new report, CPA spending in FY2005 has nearly doubled from the prior year, and 48 percent of the money – nearly $20 million – is being directed toward community housing initiatives. While the numbers have fluctuated, the new report provides enough historic perspective to conclude that the CPA is, indeed, fulfilling its mission, including on the housing side.
The good news reaches even further. Municipalities continue to adopt the CPA, with four of five communities considering the measure this spring voting to adopt it and nine others set to vote in the November elections. The report noted one of the more “striking developments” is the number of suburban communities making investments in housing this spring. And, of course, land and historic preservation and recreation projects also are garnering increased attention and resources.
The Community Preservation Act, in short, has lived up to its promise, and we encourage more Massachusetts municipalities to sign on.
