The Aquinnah select board moved to advance two regional projects Tuesday: the creation of a Martha’s Vineyard housing bank and the replacement of Chilmark School’s HVAC system.

The board, following in the footsteps of Chilmark, agreed to endorse a warrant article for annual town meeting drafted by the coalition formed this year to promote the housing bank. The article would create a housing bank modeled after the Martha’s Vineyard Land Bank.

Board members Gary Haley and Tom Murphy praised the draft article and opted not to hear a presentation from members of the housing bank coalition on the basis that the two already understood, and were in favor of, the measure. Board member Juli Vanderhoop was absent from the meeting.

“I don’t think there’s any need to go through all the paperwork,” Mr. Haley said before calling for a motion to endorse the article.

The draft article is circulating in all the Island towns.

The board also moved to enter into an inter-municipal agreement with Chilmark, West Tisbury and the Up-Island Regional School District to borrow $950,000 in order to pay for a replacement HVAC system at Chilmark School. The agreement was previously approved by West Tisbury and Chilmark, giving Aquinnah final say in the matter.

Under the agreement, Aquinnah will be responsible for around 10 per cent of the annual debt service on the loan, according to school district finance manager Mark Friedman.

“Which would translate to essentially $9,500 in principal payments,” he said.

School district officials also asked the board to add a town meeting measure to appropriate just over $23,000 to replace a portion of the West Tisbury School roof.

Funds for the project were approved at both West Tisbury and Chilmark special town meetings.

But town administrator Jeffrey Madison said the town has not yet received its free cash certification, and wasn’t in a position to make a decision on the matter. He said there’s “a lot of demand for that free cash here in town.”

Mr. Madison said unsure whether the town will have a special town meeting, and said if there is one it won’t be until January at the earliest. He recommended the board take the matter under advisement until the status of a potential special town meeting is more clear.

“We just, at this particular moment in time, can’t commit to the expenditure,” Mr. Madison said.

The board expressed sympathy for the school district’s need for money for the project.

“We’d love to give you an IOU,” Mr. Haley said.