Peabody spends $775K to keep Lynnfield Street lot as Open Space

The Peabody/Lynnfield Weekly News reports that the Peabody City Council approved the purchase of 3.9 acres of land at 182 Lynnfield Street with funding through the Community Preservation Act.

The move cost $775,000; Peabody plans to use the land for passive recreation, such as walking and picnicking, informal sporting games and perhaps community gardens. Most of the site is open grasslands ~ one corner is a wetland resource area.

Peabody was one of the first communities to opt into the CPA program, which creates a fund to preserve open space, restore historic sites and create affordable housing. In 2001, voters approved a 1% surcharge on property taxes to feed the fund, which up until 2008, was matched dollar for dollar by the state (mainly through fees on real estate transactions).

Read the entire Peabody/Lynnfield Weekly News article.