2013-03-00-CPC-ATM-rpt - Laserfiche WebLink

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year. Committee decisions are made within the framework of a CPC planning document, " Town of Lexington Community Preservation Plan: A Needs Assessment " which is updated annually after the Committee receives comments at a public hearing. This document can be found on the CPC website at the reference below. The CPC works closely with the Finance Department staff and the Capital Expenditures Committee and Appropriation Committee in tracking CPA fund balances and expenditures, projecting available funding for future years, and planning fund allocations for each of the areas eligible for CPA funding: community housing, historic resources, open space and recreation. CPC Administrator Nadie Rice currently tracks 30+ ongoing CPC projects, for which updates are given in this report after the FY14 Project Descriptions. Since Lexington's adoption of the Community Preservation Act in 2006, the CPC has recommended and Town Meeting has approved a total of $31,419,602 for CPA projects. These funds have supported 52 historic preservation projects, preserved 65.1 acres of open space, created or preserved 8 recreational facilities, and created or supported 173 units of affordable housing. Of this total, $8,218,159, or 26% of the Town's total project costs (exclusive of Administrative expenses.), has been received from the State as matching funds. Through its membership in the statewide non - profit Community Preservation Coalition, the CPC supported legislation in 2012 that amended the Community Preservation Act. In July the Governor signed legislation which allowed, among other changes, the restoration and rehabilitation of recreational resources, the clarification of certain definitions, and the transfer of $25 million to the Statewide CPA Trust Fund from the FY 13 State budget surplus. At the time of passage, there was legislative intention to authorize transfer of $25 million in funds each fiscal year for disbursement to CPA communities in the form of the State match. It is possible, therefore, that Lexington's State "match" may increase, but the Town will still maintain a conservative estimate of 27% for FY 14. For further information about the CPC, visit the CPC's page of the Town's website, hiip:Hlexin onma.gov /committees /cpc.cfm 4