State lawmakers, in collaboration with the Local Option for Housing Affordability (LOHA) Coalition and regional housing advocates, will be heading to the Massachusetts State House next week to show support for a bill that would allow municipalities to impose a fee on high value real estate transactions in order to support affordable housing.
Local collections through the fee would go into the proposed Martha’s Vineyard Housing Bank; a bill for the creation of the Housing Bank is also under consideration by lawmakers.
On June 6, housing stakeholders will be rallying in support of H.2747/S.1771, proposed legislation that will allow cities and towns to collect the transfer fees and use the money for creation and preservation of affordable housing projects.
“The event will offer legislators and attendees an opportunity to learn about the challenges municipalities and their residents face in producing and affording housing, and how the bill opens potential for municipalities to take on a larger role in addressing our housing crisis,” a recent statement issued by LOHA says.
“As a statewide coalition, LOHA supports a local option transfer fee which suits
the needs of communities of all sizes and geographies and allows the flexibility for
municipalities to adjust the terms of such a fee to their unique needs.”
The event will be held on Tuesday, June 6 at 11 am at the Massachusetts State House in Boston at 24 Beacon St, Room 428 (4th Floor).
More information about the LOHA Coalition can be found on their website.
Leaders of the Coalition to Create the Martha’s Vineyard Housing Bank (CCMVHB) ask that those interested in showing support for the local option transfer fee bill consider providing testimony to the Joint Committee on Revenue. For information on that process, CCMVHB can be reached at noah@ccmchvb.org.
