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From: Chris Saccardi, Community Preservation Coalition
Date: 3/25/2003
Time: 12:40:58 PM
Remote Name: 12.172.66.113
Yes. In fact, the CPA states in section 12 that the town or city must retain ownership of all real property acquired with CPA funds. Many towns have purchased homes temporarily to renovate them and then sold them to income eligible buyers, but if you do not end up selling the homes, then ownership must remain with the city or town and not with a third party (like a nonprofit).