The City of Medford will begin collecting monies to fund the recently adopted Community Preservation Act beginning in fiscal year 2017.
“We are excited to begin the implementation of the Community Preservation Act (CPA) beginning in July,” said Mayor Stephanie Muccini Burke. “This revenue source, along with matching funds from the state, will allow the City of Medford to plan for its future and have funds to make those plans happen.” The funds generated will be used to address community concerns such as:
- Restoring and preserving historic properties
- Helping meet local housing needs
- Acquiring and preserving open space for conservation
- Improving parks and other outdoor recreation facilities
The CPA, approved by Medford voters in November of 2015, allows for a 1.5% surcharge to property tax bills which must be used for open space, historic preservation and community housing purposes. The first quarter tax bills in July will include the new surcharge.
“As we go through this new process together, we ask for your patience,” continued Mayor Burke. “The funds generated from this surcharge will improve the quality of life for the entire community.”