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FinCom flags CPA reserves and affordability questions ahead of MVRHS vote
Summary
FinCom reviewed Community Preservation Act resources — Tisbury's CPA revenue of $988,866 and a state match of $227,000 — and expressed concern that CPA reserves (about $2.2M) could be strained by the MVRHS Project bond on the June 2 ballot. Members called for state recognition of regional CPA contributions.
The Tisbury Finance and Advisory Committee reviewed Community Preservation Act (CPA) finances and the committee’s role in regional projects on May 20. Members noted Tisbury’s annual CPA receipts of $988,866 and a state match this year of $227,000; they cited a CPA reserve of about $2,200,000 and discussed whether withdrawals could be used to lower taxes given potential MVRHS Project debt.
FinCom members said the coming MVRHS bond vote on June 2 and the project’s potential cost increases made the CPA reserve a focal point for fiscal planning. Members advocated for state recognition of municipal CPA contributions to regional affordable housing projects and requested time to review documentation provided by CPC Administrative Assistant Heidi Diettrich before taking formal positions.
