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FY 2006 COMMUNITY PRESERVATION FUNDS: $2,347,019
In FY 2006, Westford locally raised $1,268,392 in Community Preservation funds.
3% Community Preservation property tax surcharge: |
$1,162,334 |
| Investment income: | $127,727 |
| Interest on late tax payments: | $1,433.27 |
| Tax abatements: | ($23,101) |
| Local FY 2006 Community Preservation total: | $1,268,392 |
| State Match (received 10/15/05): | $1,078,627 |
| TOTAL FY 2006 Community Preservation Funds: | $2,347,019 |
The state offers matching grants from the Community Preservation Trust Fund, whose revenue is generated from designated fees at the Registry of Deeds. Because Westford set the CPA property tax surcharge at 3%, we are eligible for 100% matching funds from the state. Westford received a 100% state match of $1,078,627 on October 15, 2005. This match will be part of the funds allocated at the 2007 Annual Town Meeting.
Westford received another full 100% match for FY 06 of $1,137,231 on October 13, 2006.
After allocations passed at the October 16, 2006 Special Town Meeting, Westford Community Preservation area-specific reserve accounts hold $676.75 for open space, $0 for community housing, and $479,129 for historic resources. Westford has an annual commitment of approximately $800,000 for the East Boston Camps bond payment.
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