The Community Preservation Act is state-wide act enabling legislation to allow cities and towns to choose to create a new funding source that can be used to address three core community concerns.

Needham voters adopted the legislation at the November 2, 2004 Presidential Election.

A minimum of 10% of the annual revenues of the fund must be used for each of the three core community concerns. The remaining 70% can be allocated for any combination of the allowed uses, or for land for recreational use. This gives each community the opportunity to determine its priorities for public benefit, plan for its future, and have the funds to make those plans happen.