The Commonwealth of Massachusetts’ Community Preservation Act (CPA) is designed to raise money for affordable housing, the preser­vation of open space and historic preservation. Towns in the program adopt a three percent surcharge on real estate tax bills (exempting the first $100,000 of assessment). The state will match 100% of the surcharge revenue of each town. This is money we can’t afford to pass up.

The Martha’s Vineyard Housing Bank will be funded by a one percent transfer fee on real estate transactions above $750,000, to be paid by the seller. This would generate an estimated $2.3 million annually and with the Housing Bank’s expanded eligibility guidelines more people will benefit. The Housing Bank would operate much as the Land Bank does now, under the direction of a central committee and local CPA advisory committees.

The first step toward finding an affordable housing solution is to
VOTE YES - on your town ballot to adopt the CPA
(Chilmark and Aquinnah adopted the CPA in 2001)
VOTE YES - at your annual Town Meeting in favor of the resolution to establish the Housing Bank.
VOTE YES - on your town ballot in favor of the resolution to establish a Housing Bank.