The League of Women Voters of Martha’s Vineyard will present an educational forum on the proposed housing bank warrant article on Wednesday, March 16, from 6:30 to 8 pm via Zoom.
The educational forum will be broadcast live on MVTV. Community members can join the Zoom via a link at ccmvhb.org. Voters from all six towns are invited to learn more, to ask questions, and to offer their comments. There will be a live Q and A with the Coalition to Create the Martha’s Vineyard Housing Bank steering committee and coordinator. Questions can be emailed in advance to info@leagueofwomenvotersmv.org or info@ccmvhb.org.
With median Vineyard home real estate sales exceeding $1 million, it is harder than ever for working people at all income levels to afford stable housing, a release from LWV states. The housing bank proposal will place a 2 percent fee on real estate transactions over $1 million, with the first $1 million exempt from the fee, to create a permanent funding agency that will generate approximately $10 million to $12 million a year for affordable housing. The governance structure is modeled on the Martha’s Vineyard Land Bank, with an elected Island-wide commission and individual town advisory boards.
There will be a housing bank warrant article at every town meeting, and it will be on the ballot at each town election this spring. A link to the article language is here: ccmvhb.org/the-warrant-article. The housing bank will be able to create programs to serve year-round households at a wide range of income levels.
Additional information and materials can be found on ccmvhb.org.