Housing Bank committee to hold first meeting

Edgartown Town Administrator James Hagerty is representing the town on a newly formed Housing Bank Review Committee. -Rich Saltzberg

An advisory panel formed after every town on the Island approved a Housing Bank will hold its first meeting at 5 pm Thursday.

The Martha’s Vineyard’s Housing Bank Review Committee includes representatives from all six Island towns. The newly formed committee will begin to discuss how the recently voted-upon legislation will find its legs and subsequently be ratified by the state. The committee will then have to regulate how it will operate in prioritizing goals, and identifying the scope of the plan. 

HRBC is made up of Aquinnah housing committee chair and town moderator Mike Herbert; Chilmark select board chair Jim Malkin, Edgartown town administrator James Hagerty, Oak Bluffs affordable housing committee chair Mark Leonard, Tisbury finance committee member Rachel Orr; and West Tisbury select board member Jessica Miller. 

The Housing Bank was initiated by the Coalition to Create the MV Housing Bank, led by co-chairs Julie Fay and Arielle Faria. The coalition consisted of 19 volunteers and one paid staff member, and was modeled after the Martha’s Vineyard Land Bank. The Island legislation mirrors a state bill that seeks a 2 percent transfer fee on transactions over $1 million to fund the Housing Bank. 

The HRBC is an advisory committee that was called for in the Islandwide initiative. 

Thursday’s meeting will most likely consist of hammering out initial details, such as selecting a chair and establishing ground rules moving forward, Hagerty told The Times. The agenda and ways to participate in the meeting remotely are available at bit.ly/HRBCagenda.