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Council weighs larger housing trust fund, linkage fees and a $3 million housing bond
Summary
Councilor Mary presented proposals to raise the town’s annual affordable housing trust contribution, pursue linkage/impact fees and consider a $3 million bond; the council authorized staff to draft enabling legislation for fees, to meet bond counsel and to issue requests for proposals to developers.
Councilor Mary urged the Jamestown Town Council to expand the town’s affordability toolbox, proposing an increase to the town’s annual allotment to the Affordable Housing Trust Fund and seeking authority to collect new impact or “linkage” fees to support housing and land conservation.
Mary told the council that the town’s yearly allotment to the Affordable Housing Trust Fund should rise to $225,000 from the current $100,000 to keep pace with local property costs. “We find that we simply need to contribute more to these type of one-off singular projects,” she said, citing higher local property values and the expense of building or renovating units in Jamestown.
The council discussed two revenue options Mary presented: dedicating a portion of the town’s share of the real estate conveyance tax to the housing fund, and asking the state to authorize a new local linkage fee (an impact fee assessed on large residential construction projects). Mary suggested an example structure: a fee of about 1% on residential building projects where aggregate building cost exceeds $1 million, with the proceeds directed to the Affordable Housing Trust Fund.
Mary also proposed placing a $3 million bond on a future financial town meeting to build town-owned rental housing. She presented exploratory drawings for the ambulance barn site showing a possible three-story building with nine units (six two-bedrooms and three one-bedrooms) and 15 parking spaces; Mary stressed the designs were illustrative and that any project would proceed through competitive design and developer selection.
Councilors voted to authorize staff and the town solicitor to draft a resolution seeking state authority to impose linkage/impact fees, broadened to include both affordable housing and land conservation purposes; the motion passed with council consensus. The council also voted to schedule a meeting with the town’s bond counsel to determine what specificity is required for a bond question and to direct staff to prepare a request-for-proposals so potential developers or architects can respond with concepts for town-owned sites.
Councilors did not bind the town to the $3 million bond; Mary asked that the bond be considered for placement on an upcoming financial town meeting agenda after further work and counsel. Councilors emphasized they wanted more detailed cost estimates and legal guidance before placing any bond on a ballot.
No final funding commitments were made at the meeting; the council’s motions were to begin the legislative, legal and procurement steps needed to evaluate and, if appropriate, present housing projects and financing to town voters.
