2006-03-06-TE-Warrant-and-2006-03-27-ATM-Warrant

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Seven Town Meeting Members in Precinct Eight, the seven receiving the highest number of votes to serve for terms of three years, Eight Town Meeting Members in Precinct Nine, the seven receiving the highest number of votes to serve for terms of three years, the one receiving the next highest number of votes to fill an unexpired term ending March 2007 QUESTION#1 COMMUNITY PRESERVATION ACT Shall the Town of Lexington accept Sections 3 to 7, inclusive, of Chapter 44B of the General Laws, as approved by its legislative body, a summary of which appears below Yes No SUMMARY Sections 3 to 7 of Chapter 44B of the General Laws of Massachusetts, also known as the Community Preservation Act (the "CPA"), allow communities to establish a dedicated funding source, and to receive state matching funds, with which to (1) acquire, create, and preserve open space, (2) acquire, preserve, rehabilitate, and restore historic buildings and sites, (3) create, preserve, and support affordable housing; and (4) acquire, create, and preserve land for recreational use The dedicated funds may also be used to rehabilitate and restore open space, affordable housing, and recreational land acquired or created under the CPA. At least 10% of the annual CPA revenues must be used or reserved for each of the following CPA purposes (a) open space, (b) historic buildings and sites, and (c) affordable housing. All other annual CPA revenues may be used or reserved for any of the CPA purposes described above As approved by the 2005 Annual Town Meeting, the local funding source for Lexington will be a surcharge of 3% on the annual property tax on real property, commencing in fiscal year 2007, which runs from July 1, 2006 to June 30, 2007 In addition, the CPA creates a state trust fund from which the Town will receive annual distributions of up to 100% of the amounts raised locally by the CPA surcharge These state funds are only available to communities that have accepted the CPA. The funding source for the state trust fund is certain filing fees at registers of deeds As approved by the 2005 Annual Town Meeting, the following property will be exempt from the CPA surcharge (1) $100,000 of the value of each taxable parcel of residential real property, and (2) property owned and occupied as a domicile by any person who qualifies for low income housing or low or moderate income senior housing in the Town, as defined by Section 2 of the CPA. Any other taxpayer receiving an exemption on real property taxes authorized by Chapter 59 of the General Laws shall receive a pro rata reduction of the surcharge 6