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From: Chris Saccardi, Community Preservation Coalition
Date: 8/7/2003
Time: 11:03:30 AM
Remote Name: 12.172.66.113
Generally, CPC funds may only be appropriated for specific purposes, i.e. you couldn't just appropriate $500,000 for "future" open space purchases, etc. However, there are several exceptions to this: 1) You may appropriate CPA funds to a conservation fund, established by M.G.L. ch 40, Section 8C, which the conservation commission may then spend on open space acquisitions without further appropriation. 2) You could appropriate CPA funds for a revolving loan fund. This is a specific appropriation in that you are appropriating the funds for the specific purposes that the fund will serve, but after that one time appropriation, the administrator of the fund could then loan it out without further appropriation. Examples of this include funds that were set up to help first time home buyers with down payments (Norfolk), to help preserve homes for low income residents (in Georgetown), or a program in Cambridge that allows homeowners to apply for funds to do historic renovations of their homes. Such programs are usually administered by a non-profit, or the historic commission or housing authority. 3) You committee administrative funds (which may consist of up to 5% of your total funds) can be appropriated at Town Meeting and then the committee may spend them on eligible uses without further action by Town Meeting.