2014-12-00-CPC-rpt (Needs Assessment Report)

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2011 27.62 $885,463 2012 27.79 $929,507 2013 54.09 $1,932,347 2014 32.56 $1,188,649 To date the Lexington Town Meeting has appropriated over $58 million in funding for CPA projects (not including debt service) in the four primary categories of Community Housing ($7.5 million); Historic Resources ($31.1 million); Open Space Preservation ($9.8 million); and Recreational Uses ($4.2 million). (The $4.3 million approved for purchase of the Busa property at the 2009 Special Town Meeting is due to be designated this winter to the categories of Open Space and Community Housing.) Of the funds that have been appropriated from the Town's Community Preservation Fund (CPF), over $11.3 million has been provided from State supplemental matching funds and $500,000 from a State Land (Local Acquisition for Natural Diversity) Grant. Therefore, nearly 20% of CPA spending has been provided by State matching funds. Appropriation of CPA funds by category since passage of the CPA Bylaw in Lexington in 2006 APPROPRIATED TO DATE (by category as of 7/01/14) CATEGORY Community Housing $7,547,355 Historic Resources $31,137,445 Open Space $9,863,517 Recreational sources $4,202,392 Pending assignment to category (Busa Property and its related expenses) $4,319,000 TOTAL $52,750,709 Administrative Expenses $1,030,000 The CPA statute requires that at least 10% of the CPA funds received in each fiscal year be spent or reserved for each of the CPA's three main purposes: open space, historic resources, and community housing. CPA funds may also be also used for acquisition, creation, preservation or the restoration/rehabilitation of recreation resources. CPA funds that are not expended in one year may be "banked" or carried over to subsequent years within each main designation. The remaining 70 % of CPA funds received in each fiscal year is available to be 2