CPA Match Hits Record Low - October 14, 2009

BOSTON – The Community Preservation Act (CPA) trust fund payment distributed this week to 135 eligible municipalities was the lowest since the program began, according to data from the state Department of Revenue (DOR). The FY10 base payment of a 34.8 percent match to locally raised funds is over 65 percent lower than the dollar for dollar match received in the first six years of the CPA program. DOR estimates that the distribution will fall again next fiscal year, likely as low as 28 percent for many communities.

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