Capping weeks of debate, the Edgartown select board voted 2-1 Tuesday to place a revised housing bank article on the warrant for the April annual town meeting.
Capping weeks of debate, the Edgartown select board voted 2-1 Tuesday to place a revised housing bank article on the warrant for the April annual town meeting.
The draft article has been rewritten more than once with much wrangling over the details of the proposal to create a housing bank modeled after the land bank.
In Edgartown Tuesday, two of the three selectmen told members of the housing bank coalition they were satisfied enough to put the article on the warrant.
“I think that you guys have done a great job taking what all the towns have said and putting this together,” selectman Arthur Smadbeck said. “We have to vote on this today because today is the day to get it on town meeting. And I think it’s going to be worthwhile to get this out in front of the voters.”
The coalition has been going to the six select boards getting feedback on the draft article.
West Tisbury and Oak Bluffs are the last towns due to decide on the draft article at meetings today (in West Tisbury) and next week (in Oak Bluffs).
At the Edgartown meeting Tuesday, board member Margaret Serpa said she could not support the article, noting that her town would be collecting the lion’s share of the funding using a proposed two per cent fee on real estate transactions. Ms. Serpa pointed to Nantucket, which has already passed its own housing bank proposal, calling for a 0.5 per cent fee.
“Edgartown money . . . is going to be a huge chunk of what they’re asking, which bothers me,” Ms. Serpa said. “This is a huge per cent that they’re asking for. Two per cent, Nantucket is one town, and theirs is 0.5 per cent. Huge difference and I think we can do better in town with our money, as we’ve been doing.”
The draft article has gone through several iterations. Previous questions from Edgartown have pertained to the electoral process, provisions for towns to withdraw from the bank, the role of appointed town advisory boards and stipends for the elected commissioners.
In the revised draft, towns have the option of making a vote on the town meeting floor contingent on a second vote in the ballot box before the legislation is sent to Beacon Hill. If the legislation eventually clears the state legislature, a final vote in the ballot box would be required at town elections, with approval needed by at least four of the six towns, according to the draft.
Also in the revised draft, appointed town advisory boards must approve all projects in their towns, and elected commissioners can be paid a stipend of up to $2,000.
Towns could withdraw from the housing bank at any point, although housing bank fees would continue to be collected in that town until debt is satisfied.
There are still things to iron out in the draft, but it’s time to let voters have a say, selectman Michael Donaroma said Tuesday.
“I think it’s time for the people to get involved, to hear all of this at town meeting. We’ve come a long way. I still have some concerns, I think the [select] board does,” Mr. Donaroma said. “There’s still work to go. I hope we can continue working on this.”
Comments
"housing bank fees would
William ExPBA CHILMARK"housing bank fees would continue to be collected in that town until debt is satisfied" That's what we call "double dipping", your paying twice as a town then. Projects when built/financed are always structured to fully repay the debts from the rents over 30 or 40 yrs. That is a got you clause. Rents from the project paying, town also still paying 30-40 yrs.
I’m confused - will the
David West TisburyI’m confused - will the housing bank take on debt? I thought the money was supposed to come from the transfer fees. Does the Land Bank have debt?
Yes, a town can opt out after
BCS OAK BLUFFSYes, a town can opt out after 10 years but must continue to charge to fee until the outstanding debt is paid off. So everything in town will cost 2% more with the town getting no benefit other than what existed when they opted out.
Good question about whether
JohannaGood question about whether or not the land bank takes on debt. Worth following up on.
Taxing retirement nest eggs
Mark EdgartownTaxing retirement nest eggs and hard working homeowners investment is wrong. Where does the taxing stop, maybe they should impose a tax on wages to fund housing so everyone bears the cost. Disgraceful.
The cabal of Donaroma and
Bob EdgartownThe cabal of Donaroma and Smadbeck is shameful that they did not allow any public comment. And it’s sad to see were like the rest of the country where let’s pass something then will be able to figure out what’s in it. Margaret was the only one with common sense wanting to have more information and knowing exactly what this article is. It is still in draft form. Obviously it’s too early to be put on the warrant but in today’s time that’s how we do it. Let’s pass something and then we’ll figure out what it is. when this gets to town meeting discussion I hope it can be altered and changed and not written in stone. As well as absolutely needing an Australian ballot to vote on this.
This was the third meeting on
Ed EdgartownThis was the third meeting on this warrant article. With the prior two meetings leading to discussions between town council and the organizers to address certain issues. The organizers reworked the article in multiple ways to alleviate concerns. After doing their due diligence the Board rightly sent the article to Town Meeting where it can be debated by the public.
I had public comment to make
Dean Rosenthal MVI had public comment to make at the meeting, in fact, a prepared statement. I don’t know if it was legal of them to move right on, but Art was correct in saying that the real public comment will come at town meeting, as the motion had passed as an agenda item.
Read the proposal. There is a
MarieRead the proposal. There is a lot going on, many ways to spend.
Nothing about where the housing will be located. Up Island needs to step up.
So now a 4% total tax just from MV.
Interesting that the
gina Menemsha / NYCInteresting that the Nantucket transfer fee is so low vs what the MV grp a is proposing. . Not being familiar with the Nantucket program. perhaps b/c the RE values are that much higher & being a much smaller Island the Affordable build out will end soon ??
I'm suspect of the language of the Housing Bank plan which is confusing ..says the towns will be on the hook for all debt even if they extract themselves from the HB ??
& I see the stipend proposal remains .. Bad precedent.. IMO many of the proponents of this HB will earn far more if ever approved..
As a person who has paid real
Lorraine EdgartownAs a person who has paid real estate taxes in Edgartown for decades and decades I am totally against any form whatever for any Housing Bank. Ridiculous. Taxing people constantly on home ownership is grossly unfair and as I am fond of saying, property owners are sitting ducks and you know what happens to sitting ducks. Stop this giant money grab, please, just stop it. The implementation of the tax is abhorrent, the amount of the tax is highway robbery. For once, listen to the village people.
Just making sure you realize,
Elizabeth OConnor EdgartownJust making sure you realize, Lorraine, that this is a real estate transaction fee and not a tax on existing properties. Your property taxes will not be impacted. Thank you for allowing this clarification as it looks like a lot of people are confused about it impacting them personally.
A fee on a real estate
Mark EdgartownA fee on a real estate transaction is a tax, you can call it whatever you would like but it is a tax. The proposed structure will reduce proceeds to sellers impacting their retirement nest eggs, etc. This is just semantics.
Elizabeth, I am well aware of
Lorraine EdgartownElizabeth, I am well aware of what this tax is. It is a tax on real estate and property ownership, period. I am not at all confused. I understand my ad valorems will not be impacted by this. However, if I buy another property, I will pay that tax. There is no confusion.
Sorry - but the use of the
Jason EdgartownSorry - but the use of the term "fee" vs "tax" is a difference without a distinction. By your logic, the sales tax I pay on a bottle of soda is also a fee as it is a one time charge for the privilege of buying the product. It is just more politically palatable to call it a fee vs a tax, hence the decision to call it a fee. But irrespective of whether you call it a fee or a tax, the cost to the paying party will be the same, and it will adversely affect home values. That is economics 101.
Just so we are clear, this is
Ed EdgartownJust so we are clear, this is a one time fee paid by buyers of property. Same as buyers have been paying the Land Bank since 1985.
As a homeowner, even though,
Islander MVAs a homeowner, even though, as it has been pointed out, that this is a real estate transaction tax, I would like to say that I have a retirement nest egg, I am a homeowner, and I am a working person, and I am more than happy to contribute to this, because I believe in the community and in giving back. I am so sick of seeing the self-absorbed comments that do not look out for the community and the younger generations and focus solely on their own needs, it always is about money, never about what’s best for the future. People wonder how we got to where we are in America.
So dismayed that at least one
Elizabeth OConnor EdgartownSo dismayed that at least one member of the Edgartown Selectboard didn’t do their homework and didn’t know the facts but still cast a vote. Do your job, Margaret Serpa. The three Selectboard members have occupied their seats for a collective total of 63 years (and each paid an annual stipend). It is time to encourage more people to run and bring fresh ideas to the board. The Housing Bank is a real solution to a real problem this island is facing. It is time for the people to have a voice.
Total agreement. Doing the
Dean Rosenthal EdgartownTotal agreement. Doing the best job for Edgartown means voting on the complete package of information, especially without asking questions, it was very clear that selectwoman Serpa was not fully informed of what was in the proposal and was making a decision for constituents based on an incomplete set of facts.
I choose to be philanthropic
Lorraine EdgartownI choose to be philanthropic on my own terms. If one has a desire to provide housing for others, start fundraisers similar to the ones we have for other causes, this lets those who wish to give the opportunity to do so, for others, such as myself, I prefer to choose my own philanthropy. It is not up to anyone else to decide how my philanthropy is chosen.
Stipends are a problem. If I
Ken Edg.Stipends are a problem. If I had my way Id remove all of them. People will apply to just get the stipend. We need smart people all ready successful in life to manage things.
Ken - we need folks from all
Keith Chatinover EdgartowbKen - we need folks from all backgrounds to serve on boards, not just financially successful people.
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