Appointment Authority: Joint Committee Appointees
Description:
The Community Preservation Committee is responsible for developing a Community Preservation Plan and to facilitate implementation of the Community Preservation Act (CPA) in Stow, which Stow adopted in 2001. Under the CPA, Stow has adopted a property tax surcharge to create a locally controlled Community Preservation Fund, which can be used to fund projects relating to the acquisition and preservation of historic buildings and landscapes, the acquisition and preservation of open space and recreation land, and the creation and support of affordable housing.
Stow is participating in the CPA in a manner that maximizes state matching funds and provides the least financial impact to the community. Towns that participate with a 3% property tax surcharge are eligible for state matching funds in the second and third rounds of grants each year. In addition to a 3% property tax surcharge to fund the Community Preservation Fund, Stow voted to adopt all exemptions to the surcharge, including: properties occupied by low income property owners and properties occupied by low and moderate income senior property owners if they show proof of eligibility income.
Additionally, the first $100,000 of assessed property value is exempt from the tax surcharge. Stow has been successful in gaining 100% state matching funds each year thus far.
The CPC has been studying the existing resources of the town, identifying critical needs such as affordable housing and evaluating options to address those needs. All specific projects to be funded must be approved by a majority vote at Town Meeting.
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