As voters in four towns prepare to weigh in next week on a wide range of issues at annual town meetings, one issue has dominated Island discourse: the proposal to create a housing bank.
In 2004, recognizing the need for the creation of year-round housing across the Island, the majority of voters in all Island towns voted to petition the state legislature to create an Islandwide housing bank and fund it with a steady, dependable source of new revenue.
Edgartown selectmen reacted sharply after learning that state Sen. Julian Cyr and Rep. Dylan Fernandes had filed legislation to establish a housing bank three months ago.
Question, concerns and support were all expressed at a housing bank forum held to discuss the details of two warrant articles coming to town meeting floor this season.
Edgartown selectmen sent a letter to state Rep. Dylan Fernandes and Sen. Julian Cyr voicing strong opposition to the establishment of a housing bank using funds from the short-term rental tax.
An ad hoc citizen group has assembled to develop an action plan for the growing housing crisis on the Vineyard. The first step comes at town elections beginning next week, when voters will be asked to weigh in.
This week, the idea took a giant step closer to reality when Aquinnah became the sixth town to support the creation of a housing bank, modeled after the Martha's Vineyard Land Bank.
The concept is called the Martha's Vineyard Housing Bank.
Now the heavy lifting begins.
In order to become law, the housing bank needs approval from the state legislature and also every Vineyard town.
Draft legislation for the proposed Martha's Vineyard Housing Bank will circulate around the Island this month as organizers seek public comment before the bill is filed in the state legislature some time in early September.
If approved at the state level - a prospect that many are calling difficult - the legislation would still need to come back to the Vineyard for another round of binding votes.
Affordable Housing Initiative Clears Key Hurdles at Ballot Box
By JAMES KINSELLA
Voters in three Vineyard towns yesterday brought the Island a step closer to the creation of a housing bank by backing the initiative and enacting the Community Preservation Act.
Approval of the CPA in Edgartown, Oak Bluffs and West Tisbury provided a crucial step on the road to establishment of a housing bank, which would be modeled on the Martha's Vineyard Land Bank.