The Community Preservation Act Committee is recommending close to $600,000 for a dozen projects.
The group entered this year's process with $613,000 to spend but just slightly more than $1 million worth of requests for 14 different projects. In order to allow for some funds to roll over into next year, City Planner CJ Hoss suggested keeping the approvals under $600,000.
Nine entities are looking for more than $1 million from the Community Preservation Act to fund an array of projects.
But, the city only has about $613,000 to dole out. The Community Preservation Committee will spend the next month or so decided which projects to fund and at how much.
Even accounting for the town's continuing obligation to make payments toward a $1.5 million commitment to the Cable Mills project — a commitment that falls under all three CPA designations — the town still projects $533,318 in available funds for the fiscal 2020 funding cycle.
The city's Finance Committee is on board with funding at all 11 qualified applications for the Community Preservation Act at least somewhat.
A total of 12 applicants requested a total of $823,026 worth of funding in the first year of the new program. The Community Preservation Committee ultimately decided it would fund every one - except one which withdrew - at least somewhat with $320,000 of the $433,819 available.
The Community Preservation Committee is recommendation just about all applicants for the first year's distribution receive some level of funding.
The committee agreed on Monday to recommend a total of $320,000 from the fund be distributed to 11 different projects. The City Council will be asked to provide the final approval to the committee's recommendation before any funds can be distributed.
A total of $823,026 was requested of the Community Preservation Act funds.
But, the committee will only able to fund less than half of that. The committee will have somewhere between $370,000 and $390,000 for recreation and historic preservation projects.