The New Shoreham Block Island Housing Board convened on December 18, 2024, to discuss critical strategies for addressing the island's affordable housing challenges. A significant focus of the meeting was the potential revision of density bonuses for affordable housing, which could help lower construction costs and increase housing availability.

Board members explored the idea of establishing a community land trust, similar to existing conservation land trusts, to generate funds through real estate fees. This approach aims to tap into the rising property values on the island as a viable source of revenue for affordable housing initiatives. Discussions highlighted the need for a collaborative effort to potentially lower the current 3% fee set by the town council, allowing for a portion of the funds to be redirected towards housing projects.

Participants acknowledged that any changes would require legislative action and support from the land trust and town council. The conversation underscored the importance of community engagement and lobbying to build consensus around these proposals. Board members expressed optimism about the timing for such initiatives, given the current political climate surrounding housing policies.

As the meeting concluded, members emphasized the necessity for ongoing dialogue and collaboration among various stakeholders to ensure that the community's housing needs are met effectively. The board plans to continue exploring these ideas and will seek expert legal advice to navigate the complexities of potential legislative changes.