Islanders Team Up to Rally at the Statehouse
Residents from Nantucket and Marthas Vineyard advocate for Housing Bank Bill
(March 29, 2023) Last week, over 300 residents from Nantucket and Martha’s Vineyard, traveled to Boston to show support for HB 2747. Cyrus Peirce Middle School students, Select Board members, Land Bank commissioners, realtors, and members of the Chamber of Commerce joined forces with their Vineyard counterparts for an inspiring day of advocacy. Passing this bill would allow Nantucket, as well as other towns across the state, to establish a transfer fee funding a “Housing Bank,” for the purpose of having a dedicated revenue stream to create affordable housing units on the island.
“Our community is truly at a crossroads,” said Sen. Julian Cyr, pictured above, in his speech on the statehouse steps. “What we’re doing today is reflective of the moment… that we hear you on Beacon Hill loud and clear. That momentum is building to establish a local option real estate transfer fee to fund housing production and preservation of housing in our communities…. I’m so excited to deliver on this.”
“We are the very backbone of the island community and yet our means of survival are dwindling,” said high school senior Greyson Kirk. “We are what makes the islands resilient and beautiful. Get rid of the community, and you don’t have an island. This is our home and we deserve to live here.”
Just last year, community members testified in favor of Nantucket’s real estate transfer fee. The bill was withdrawn due to lobbying efforts from the Massachusetts Association of Realtors. Nantucket is again seeking a .5 percent transfer tax on real estate transactions in excess of $2 million. Had the legislation been passed last year, over $6 million would have been available to address the ongoing housing crisis.
Securing funding for affordable housing continues to be a priority, and the warrant for Annual Town Meeting on May 6th offers several options for consideration. Funding allocated will be used to implement the Town’s Housing Production Plan .
