After listening to the flawed arguments presented to oppose the Community Preservation Act (CPA), there were a number of disappointing issues presented, but the most striking, of course was money.
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Some of us, maybe relatively few, clung to the belief that if you knew you were going to make a major purchase, you actually saved money in anticipation.
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A number of years ago, GM offered a 'First Time Buyers' Rebate.' When I read the terms, 'First Time Buyer' was determined to be a buyer who had never taken out a car loan. Although it was intended for young buyers, I had never in my life had a car loan. I had cash to purchase the vehicle, but the fine print said I had to take out a loan to obtain the rebate. I took out the loan after insisting the interest rate be reduced and when I received the silly coupon book, called GMAC to find out what the payoff would be. It cost a nominal amount, maybe $30 for the loan, to get the rebate of several hundred dollars and I paid off the loan I had never intended to take anyway. Of course, I received a subsequent call from the dealership that was probably penalized and not pleased by my actions.
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Shortly thereafter, I began working in a building owned by Jack Conway, in which his main office was located. Each day, I saw his Lincoln Continental parked in his space over the course of months. One day, he was driving another vehicle. When I asked where his Lincoln was, he explained that it had too many miles (maybe 400,000 miles) and repairs were too costly to justify. So I asked if he was going to buy a new Lincoln. His somewhat animated response was in effect "I would never buy a NEW car. You loose too much money when you drive it off the lot."
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I have friends who fail to understand that they're struggling to pay for that new super duper vehicle they really can't afford. Because their credit isn't so great, they pay sub-prime rates for the credit. They've missed payments and their credit card debt is obscene. (Sub-prime lending is a penalty bestowed on those least able to afford it because they weren't taught about credit and finance, but that's another whole usury issue.) But we have friends who are proactive with their finances, have reduced their expenses, lived below their means, saved and actually reduced their energy costs (another blog!). The proactive crowd refuse to live with the stress created by excessive indebtedness. And they have a little piggy bank for the unforeseen, the unexpected and unpredictable.
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And although it's treasonous, some have actually paid off their mortgages early and eschewed debt in any form.
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So, we created this borrowing mindset the majority accept. You want it? Borrow! Simple!
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Yet, the same opposition arguments presented to oppose CPA now, were presented last time.
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Had we had the wisdom and adopted CPA when it was initially proposed, Middleboro would have had a little piggy bank to pay for the purchases that were approved at Town Meeting. Imagine that!
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And those funds, accumulated each year would have had a better match than is currently offered. And that little piggy bank would have earned some interest.
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Maybe we could have purchased the Gibbs' property, the Freitas' property/restriction and the Parks' property without indebting the next generation.
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We can argue all of the other issues, but there's that little piggy bank that might have prevented borrowing.
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CPA creates a little piggy bank, for a nominal contribution beginning in 2010.
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CPA offers low income exemptions that will not force residents out of their homes.
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Individual contributions to CPA are nominal.
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