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The Community Preservation Committee launched a series of meetings on Jan. 16 to begin discussing funding requests for fiscal 2019.
Meetings will continue weekly until annual Town Meeting on March 24 when committee members will bring their recommendations to voters.
The Community Preservation Act of fiscal 2001 made it possible for communities to apply a property tax surcharge of up to 3 percent for historic preservation, open space purchases, recreational needs and the creation of affordable housing. The state matches the annual contributions at variable rates.
Westford was among the first 34 communities in Massachusetts to create the CPC fund. At the time, the state matched CPC funds at a rate of 100 percent. Among other purchases, the money made it possible for the town to purchase 286 acres of pristine land off Depot Street, known colloquially as East Boston Camps. The 2005 purchase of $13.5 million from the Hyams Foundation was bonded for $8.5 million over 15 years. The total purchase price was $14.770 million, according to Dan O’Donnell, the town’s finance director. O’Donnell said he anticipates the debt will be paid off by April of fiscal 2019.
Eleven applicants are seeking Community Preservation funds for a total of $6.9 million in requests, for the fiscal year that begins July 1.
According to Jesse Beyer, administrator, the fund balance is $3.68 million, including $2.7 million in undesignated funds.
The next CPC meeting is slated for Jan. 23 at 7 p.m. in the Millennium Building, 23 Depot. St.
