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Cape and island leaders ask for local option transfer fee to fund island housing
Summary
Officials and housing advocates from Cape Cod, Nantucket and Martha’s Vineyard urged the committee to pass a local option real‑estate transfer fee (S.14xx) to generate local revenue for affordable housing. Speakers said limited developable land and booming second‑home markets make locally raised funds essential to preserve year‑round communities.
Mayors, housing trust directors and community development officials from Cape Cod, Nantucket and Martha’s Vineyard told the joint committee that high prices and short‑term rentals are hollowing out year‑round communities and that a local option transfer fee would produce a steady revenue stream for affordable‑housing efforts.
Jay Coburn, CEO of The Community Development Partnership on Cape Cod, told the committee that median home prices on the Cape have more than doubled in five years and that short‑term…
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