FinCom Analysis of Article 40, Reduce CPA Surcharge

Published March 26, 2010 | Community Preservation Committee | Automatically Archived on 10/14/2010

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At their meeting of March 25, 2010 the Sudbury Finance Committee voted 6-2 to oppose Article 40, an article to reduce the CPA surcharge from its present 3% to 1.25%.

FinCom member Jim Rao presented an analysis of the petitioner's findings, attached here, FinCom Analysis of Article 40, Reduce CPA Surcharge. The attached 20 year analysis revises the future fund balance to indicate a much slower rate of growth, and projects, if Article 40 is passed, leaving minimal funding for CPA projects over the required 10% minimum spending in the 3 statutory categories.

The Community Preservation Committee also opposes this article, as it effectively eliminates the Town's ability to use CPA funds to preserve large open space projects.