FINAL FY16 CPC Open Space Acquisition Fund Recommendation — File 201434

JOSEPH A. CURTATONE MAYOR COMMUNITY PRESERVATION COMMITTEE FY16 FUNDING RECOMMENDATION FOR OPEN SPACE LAND ACQUISITION FUND, CITY OF SOMERVILLE PROJECT DESCRIPTION This project will provide resources for the City of Somerville to create a dedicated Open Space Land Acquisition Fund that provides the flexibility to secure new public open space. The CPA contribution will serve as seed funding and will be supplemented with additional non-CPA funding. The fund strategy and any standard operating procedures will be revisited and reviewed at regular intervals, not to exceed five years, to ensure compatibility with community values and the Community Preservation Plan. ELIGIBILITY Open space/recreation land: This project will both acquire and create open space/recreation land. RECOMMENDED FUNDING On April 28, 2016 by a vote of 6-0 the Community Preservation Committee recommended appropriating $750,000 for this project: $340,945 from the open space and recreation land reserve budget and $409,055 from the undesignated fund balance to the control of the City of Somerville Office of Strategic Planning and Community Development Transportation and Infrastructure Division for the overall purposes summarized in this document. Project Budget Expenses Amount Acquisition $750,000 Total $750,000 Sources CPA open space/recreation land funds- requested $300,000 Total $300,000 CITY OF SOMERVILLE, MASSACHUSETTS COMMUNITY PRESERVATION COMMITTEE 1

JOSEPH A. CURTATONE MAYOR ALIGNMENT WITH FY16 COMMUNITY PRESERVATION PLAN The Community Preservation Plan supports SomerVision’s goal of adding 125 new acres of publicly accessible open space and recreation land to the City’s current stock. The proposed project will provide the City of Somerville more flexible funding to help achieve this goal. This project is also in alignment with the Community Preservation Plan’s commitment to use CPA funding strategically by funding projects that take advantage of exceptional, time-sensitive opportunities and leverage other funds or in- kind contributions, assuming the City is successful in raising additional funds for the acquisition fund. FUNDING CONDITIONS 1. The Transportation and Infrastructure Division of the Office of Strategic Planning and Community Development will work with the Committee to develop the terms of the fund; no CPA funds will be released for the Open Space Land Acquisition Fund until the Community Preservation Committee approves said terms. The full proposal is available at: http://www.somervillema.gov/cpa/projects/2016 2