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.

Affordable housing has been part of the land bank’s planning since 1989, when it first adopted a housing policy.

After more than two years of debate and planning at the local and state level, time literally ran out last week on a proposal to impose a one per cent tax increase on the sale of more expensive homes on the Vineyard to pay for affordable housing.

A bill to establish a housing bank to fund affordable housing on the Island has cleared the Massachusetts House and is before the state Senate for consideration after failing in the House two years ago.

Rep. Eric Turkington, who represents the Vineyard, said this week he is heartened by the favorable vote by the House finance committee to create the fund, now before the Senate, that could create $2 million a year in affordable housing funds for the Island.

The Massachusetts house of representatives dealt a crippling blow to Vineyard affordable housing advocates last week, voting 91-64 on Thursday to defeat legislation that proposed creating a public housing bank on the Island.

The vote was especially stinging because the proposal - which would have taxed real estate transactions to fund affordable housing initiatives - was already effectively dead for the year. Even if the house had approved the bill last week, it would have been subject to a gubernatorial pocket veto with no chance for an override.

Housing Bank Legislation Languishes as Lawmakers Ready to Recess
Session

By IAN FEIN

With the state legislative session set to expire in 10 days, a
proposal to create public housing banks on Martha's Vineyard and
Nantucket appears to be effectively dead for the year.