CPA Trust Fund to receive $25 Million – November 8, 2013

The Community Preservation Coalition (CPC) announced that the State Comptroller has found that the state's FY2013 budget surplus will be sufficient to transfer $25 million to the statewide CPA (Community Preservation Act) Trust Fund this month. The $25 million will be added to fees collected on transactions at the state's Registries of Deeds, the traditional source of revenue for the CPA Trust Fund.  The Coalition also reports that the Registry filing fees collected for CPA have risen by almost 6% during the past twelve months. The Massachusetts Department of Revenue (DOR) will release the Community Preservation Trust Fund distribution amounts for each CPA municipality by November 15.   This will permit a significant increase in matching funds for CPA communities.