Reading Voters Will Decide on Community Preservation Act November 3

On November 3, Reading voters will have an opportunity to decide whether the town should adopt the Community Preservation Act (CPA), a state program designed to help Massachusetts communities invest in affordable housing, open space and recreation, and historic preservation.

The CPA question, Question 11, represents an opportunity for Reading to establish a dedicated source of funding for projects that strengthen the community today while preserving what makes Reading a special place to live for generations to come.

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The proposal calls for a 1% surcharge on applicable residential property taxes, with important exemptions. The first $100,000 of assessed residential value would be exempt, as would qualifying low-income and low- to moderate-income senior households. Commercial and industrial properties would also be exempt under Reading's proposal. The estimated average cost to a Reading homeowner is approximately $102 per year.

In return, Reading would become eligible to receive money from the statewide Community Preservation Trust Fund, which is funded through fees collected at the Registry of Deeds. More than half of Massachusetts communities—201 of the state's 351 cities and towns—have already adopted CPA. Together, those communities have raised more than $3.7 billion for local preservation projects, including affordable housing, open space, recreation and historic preservation.

Bringing Reading's share home

One of the most compelling reasons to support CPA is the opportunity to leverage local dollars with state funding.

Reading residents have been contributing to the statewide CPA system through Registry of Deeds fees, even though Reading itself has not adopted the program. By adopting CPA, Reading would become eligible to receive a portion of those statewide funds back for projects here at home.

The Reading CPA Study Committee estimates that the proposed 1% surcharge could generate approximately $822,000 annually in local revenue, with additional state matching funds bringing the total to just under a million per year. The state match can vary from year to year, but the principle remains the same: Reading can leverage its local investment with money from outside the community. That means CPA is not simply about raising money. It is about creating a mechanism to make Reading's dollars go further.

Investing in the Reading we know and love

CPA funds can only be used for specific purposes: affordable housing, open space and recreation, and historic preservation.

For Reading, that could mean additional resources for projects such as improving parks and recreational facilities, preserving important historic buildings and sites, protecting open space, and helping create or preserve affordable housing opportunities.

The program could also provide a funding source for projects that might otherwise have to compete with schools, public safety, roads, infrastructure and other essential municipal needs for limited operating and capital dollars.

Potential projects discussed during the town's CPA process have included improvements to Birch Meadow, preservation work involving local historic resources such as the Mattera Cabin, conservation projects, improvements to the Pleasant Street Center, and affordable housing initiatives. Adoption of CPA would not automatically fund any particular project; future projects would go through the required local review and approval process. Final project approval is in the hands of Town Meeting members.

That local control is an important part of the program. If adopted, Reading would establish a Community Preservation Committee made up of local representatives. The committee would develop a Community Preservation Plan and evaluate proposals before making recommendations to Town Meeting.

Looking beyond the next budget cycle

Perhaps the greatest benefit of CPA is the opportunity to think strategically about Reading's future.

Affordable housing is a growing challenge in communities throughout Massachusetts. Open land is increasingly difficult and expensive to preserve. Recreational facilities require ongoing investment. And once an important historic resource is lost, it cannot simply be recreated.

CPA provides Reading with a dedicated tool to address all three of these needs.

It also allows the town to plan ahead rather than relying solely on one-time funding opportunities or asking the general fund to absorb every preservation project.

At a recent local event, when a Reading resident was asked about the CPA proposal, the response was simple:

"It's a no-brainer."

For many supporters, that sentiment captures the heart of the argument. CPA gives Reading an opportunity to invest locally, leverage state money, protect the town's character and create new possibilities for future generations.

It is not a blank check. CPA dollars are restricted by law to specific purposes, projects must go through a local approval process, and the tax impact is limited by the exemptions approved as part of Reading's proposal.

But it is a new financial tool—one that more than half of Massachusetts communities have already chosen to use.

On November 3, Reading voters will decide whether to join them.

For more information about the proposal, its potential benefits to Reading, and answers to frequently asked questions, visit CPAforReading.com.