Monday, October 5, 2020

Question of the Day: "How is the allocation of local funds prioritized?"

Question of the Day:  
"How is the allocation of local funds prioritized?"
There are protections built into the CPA which prevent all of a town’s CPA fund from being used for one category.
 
Most of the CPA funds allocated each year go into an “undesignated” CPA account.  30% of the funds are budgeted to specific categories in each year’s CPA budget: 10% each to Historic Preservation, Open Space and Recreation, and Community Housing. 5% each year can be spent to administer the program. 

And... the funds designated for a particular category can never be used for a different category. That is why the law requires 10% must be dedicated to each of the 3 categories above. Funds designated for Open Space/Recreation (together count as one category according to state law) cannot be used to fund projects in other categories. The funds set aside for each use remain available for future projects in that category.

These regulations ensure that CPA funds are used as intended.
 
 

If you have a question about how the Community Preservation Act (CPA) works, please email CPA4Franklin@gmail.com

 
 
Chilson Beach at Beaver Pond
Chilson Beach at Beaver Pond

Community Center at Central Park Terrace
Community Center at Central Park Terrace


one of Franklin's strawberry patches
one of Franklin's strawberry patches

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