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Lowell CPC approves higher affordable-housing set-aside in annual CPA budget
Summary
The Lowell City Community Preservation Committee voted to set aside 25% of Community Preservation Act funds for community housing in its annual budget, raising the housing pot from the statutory minimum of 10% and leaving specified amounts for administration, open space and historic preservation.
The Lowell City Community Preservation Committee voted to set its fiscal-year appropriation, assigning $62,600 for administrative expenses, $125,200 for open space, $125,200 for historic preservation and $313,000 (25% of projected receipts) to community housing, with the remainder placed in the budget reserve.
The vote puts an explicit marker on housing funding: Member Baez proposed increasing the housing allocation to 25%, saying, “I am suggesting 25% for affordable housing specifically,” and the committee approved the motion after discussion…
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