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Council sets work session Feb. 18 with Land Trust and Affordable Housing Trust to discuss transfer tax options
Summary
The council scheduled a work session with the Land Conservancy Trust and the Affordable Housing Trust Collaborative for Feb. 18 to discuss a possible transfer tax and other funding options for land-trust and affordable housing initiatives.
The Narragansett Town Council agreed Feb. 3 to meet with the Land Conservancy Trust and the Affordable Housing Trust Collaborative on Feb. 18 to discuss a potential transfer tax and other funding mechanisms to support affordable housing and land-trust acquisitions.
Council members said the purpose of the work session is informational: to learn about tax options and how trusts in other communities scaffold funds for land acquisition and affordable housing projects. Land Trust members urged the council to hold the discussion promptly because state legislative timelines could affect options that require General Assembly action.
Several residents commented during public comment about concerns that transfer taxes might increase costs for individual homebuyers and that safeguards would be needed to ensure funds support locally directed affordable-housing projects rather than primarily serving large developers.
The council adopted a motion to schedule the work session with the two trusts for Feb. 18, 2025. Councilors said they will coordinate with trust chairs to confirm availability and publicize the meeting.
Why it matters: A local transfer tax or other revenue mechanism could provide a dedicated funding source for land acquisition and affordable-housing programs, but design details affect who pays and who benefits; the work session is intended to educate the council and public.
Speakers
Dave Abadesian, Land Trust (speaker; land trust member)
Dr. Al Alba (public commenter)
Councilors (unnamed) (government)
Clarifying details
- Work session date set: Feb. 18, 2025. - Trust representatives requested timely discussion to meet legislative windows if the council wishes to pursue state-level enabling legislation.
Provenance
- topicintro: transcript when item introduced (s 6089.23): "Is there a motion to schedule a work session with the land trust and the affordable housing trust collaborative..." - topfinish: transcript where council scheduled the session (s 6784.685–6796.145): "All those in favor. Aye. Any opposed motion passes 5 0."
