LowellDeeds

The Community Preservation Act, more commonly known as CPA, was signed into law in September 2000. The law authorizes communities to establish a CPA fund by applying a surcharge to their local property tax. The revenue collected by the community is matched by the state. The state's funds come from a $20.00 surcharge paid on most documents filed at the Registry of Deeds. CPA funds can only be used for Historic Preservation, Affordable Housing and to purchase Open Space. Even four years after its enactment, some communities are just now beginning to consider it. Currently, 65 of Massachusetts' 351 communities has opted to participate in CPA. There are nine additional communities scheduled to vote on CPA in 2004, including Concord and Groton in our area. Tewksbury officials have also begun to discuss whether they should bring the option to voters. This year's refinancing slow down has caused a sharp reduction in the number of documents being recorded at the registry of deeds, which obviously affects the registry's CPA contribution. In spite of the slow down, if our recording pace for the second half of 2004 matches the first, we will record 30% more documents than in 2000, the year the Community Preservation Act was signed into law.