CPA MINUTES:

Curt Bellavance on CPA
Curt Bellavance of Peabody on success with CPA

CPA MINUTE: The Peabody Experience

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“Hello, my name is Curt Bellavance and I am chair of the Peabody Community Development Authority.

Peabody joined the Community Preservation Act in 2001. I think the best part of CPA is that we use the funds to get other State grants.

We have leveraged CPA funds to design our Independence Bike Trail. The State is going to give us $11M to construct two sections of the bike path. The original funding was partially CPA as well.

We had a 286-unit apartment complex that was funded using State funds in the early 80’s.  That was set to expire and the apartment complex, which was 90% subsidized, was going to become all market rate.  We used our CPA funds to support the project to stay affordable.  If not, there would have been hundreds of people displaced.

We’re constructing a Riverwalk downtown and using approximately $500K of CPA funds to assist with design.  We have received several State and Federal grants to help support the project.  It will not only provide flood storage but will turn a contaminated area into a linear park adjacent to our Main Street.  

I not only work in Peabody but I live here as well.  I pay about $100/year in CPA tax.”

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