Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Transfer Fee Study topic
No spam. Unsubscribe anytime.
Affordable Housing Trust pledges $10,000 to joint transfer-fee study with Martha’s Vineyard and NPDC
Summary
The trust approved a $10,000 contribution to a Donahue Institute study, to be cost‑shared with the Nantucket Planning and Economic Development Commission and the Martha’s Vineyard Commission, to analyze how a transfer fee could affect attainable and affordable housing and the local real estate market.
The Nantucket Affordable Housing Trust voted July 1 to contribute $10,000 toward a study by the Donahue Institute that will analyze the impact of a real-estate transfer fee on affordable and attainable housing and on the local market. The study is a joint effort with the Nantucket Planning and Economic Development Commission (NPDC) and the Martha’s Vineyard Commission.
Christy, a Housing Department staff member, told trustees the full prescope of services is just under $70,000 and that the cost would be split between the Vineyard commission and NPDC; the trust’s proposed contribution would be $10,000 with NPDC expected to cover the balance of Nantucket’s share. "The request that I have before you ... is that the trust contribute $10,000 to the study," Christy said during the meeting.
Trustees discussed the regional value of coordinated analysis and the study’s potential to provide data for advocacy before the state legislature. Trustee Deborah (surname not specified in transcript) noted that Nantucket and Martha’s Vineyard are the only two Massachusetts communities with land banks and argued that island-level data could rebut claims that a transfer fee would suppress real-estate sales.
Meg Bowers moved the trust’s $10,000 allocation to support the Donahue Institute study; the motion was seconded and approved by roll call. Staff said the Nantucket Planning Commission (NPDC) is expected to vote on its participation on July 14, and the study timeline and scoping documents are publicly posted in the trust packet.
Next steps: NPDC will consider the joint proposal at its July meeting; if NPDC agrees and the Vineyard commission remains a partner, the three parties will proceed with the Donahue Institute scope of services and cost-sharing described in the trust packet.
