Letter to Malden Leaders and Business Owners

Dear Leaders and Business Owners of Malden:

We are writing to you today, because Malden is at the crossroads of it’s future. To grow successfully, we need to balance many elements. Preserving green space, protecting our history and providing safe housing for people of all ages and income levels are just a few of the key elements that make a city great. As residents and business owners of Malden, we all have a responsibility to ensure Malden is able to grow and still provide a quality of life that will benefit everyone. Voting YES on Question 3 on Tues. Nov. 3 will help us do that by adopting the Community Preservation Act (CPA).

Since 2000 Malden residents have been paying into the State’s CPA fund through fees on real estate filings at the Registry of Deeds and the CPA has distributed approximately $1.4 billion to cities throughout the Commonwealth. For the past 15 years our hard earned money has been distributed to improve cities and towns across the State, yet because Malden hasn’t adopted the CPA, we haven’t seen a penny of that money. It’s time for Malden to adopt the CPA and put our money to work in our own community as 158 communities, nearly half of the Commonwealth, have already done.

Malden has a deep need for additional open space. We currently have the second lowest percentage of protected open space (4.8%) in the region, second only to Somerville (4.5%), which recently adopted the CPA. By adopting the CPA, Malden will have the funds necessary to protect and improve the quality of life in Malden for all residents and businesses.

Malden’s CPA would be funded by a minimal 1% surcharge on assessed property value for residents and businesses, after an exemption for the first $100,000. This means the typical Malden homeowner will only pay approximately $26 per year (or less than 50 cents a week), while all Malden homeowners already receive a proposed $1757 residential tax exemption. This $1757 exemption can be increased to offset the financial burden on residents if it was felt necessary, rendering the surcharge tax neutral to homeowners. Renters, low-income residents and moderate-income seniors will be exempt from paying the surcharge. For example, a household of 4 with an income below $78,800, or a senior (60+) owner household of 2 with an income below $78,800 qualifies for the exemption, so only people that can afford it are investing.

The surcharge on commercial/industrial properties, which have an average valuation of$1,000,000, in Malden, is $222 per year ($900,000 x $24.69/$1000 commercial tax rate x 1% = $222.21, which is $4.27 per week). Of the total annual estimated CPA funds of $508,000, $122,000 will come from the commercial/industrial surcharge (24% of total). All totaled, including the State’s estimated $127,000 contribution, we will be investing approximately $636,000 per year, in projects that enhance our city.

The CPA will also allow Malden to leverage matching grants from other foundations and private funds, thereby increasing our modest investment! It is not unheard of for other CPA cities to double or even triple their funds via money matching grants. Massachusetts communities that have adopted the CPA Another valuable feature of the CPA is that this money is separate from the city’s annual budget, and is administered by a Community Preservation Committee (CPC), comprised of representatives from the Planning Board, Housing Authority, Parks and Recreation and the Historical and Conservation Commissions, along with four at-large members from the community to ensure that chosen projects are fair and balanced with regard to the needs of the city as a whole. Each project will also be subject to approval by City Council.

Another valuable feature of the CPA is that this money is separate from the city’s annual budget, and is administered by a Community Preservation Committee (CPC), comprised of representatives from the Planning Board, Housing Authority, Parks and Recreation and the Historical and Conservation Commissions, along with four at-large members from the community to ensure that chosen projects are fair and balanced with regard to the needs of the city as a whole. Each project will also be subject to approval by City Council.

Adopting the CPA would challenge Malden to revamp its development processes and would engage residents and local groups to consider what projects to propose and apply funding for. It would allow residents to have a real say in how their money is spent and would help them to make sure their money goes towards projects that are important to their neighborhoods. Somerville’s Mayor Curatone has stated, “it [the CPA] allows the community to fund projects that otherwise might not receive the financial support they need.”

The following are just a few examples of projects Malden could use CPA funding toward:

• Creating parks at the former Malden Hospital site and High Rock area for families to gather and our kids to play
• Upgrading existing parks and ballfields throughout the city
• Preserving buildings like our historic Library and Central Fire Station
• Cleaning up the Malden Riverfront
• Completing projects along Bike-to-the-Sea

A Trust for Public Land study found that for every $1 the Commonwealth invested in land conservation, $4 is returned in natural goods and services to the Massachusetts economy. It’s simple, if people enjoy our city, they’ll visit more often, stay longer and spend their money here.

In the end, typical homeowners will be contributing less than fifty cents a week and typical business owners approximately four dollars a week – a modest investment that will improve Malden’s local economy by enticing people to live here and not want to leave, while enhancing the quality of life for our longtime residents and ensuring our city can grow and still remain a great place to live.

We hope we can count on your support in helping Malden grow successfully by voting YES on Question 3 on November 3. If you still need more facts to help make your decision, please visit PreserveMalden.us or communitypreservation.org

We appreciate your valuable time and consideration of this matter, which will affect Malden’s future for years to come.

Sincerely,

Preserve Malden Committee
preservemalden.us