<p>Is it perhaps time to modify the mission of the Martha’s Vineyard Land Bank?</p>
Is it perhaps time to modify the mission of the Martha’s Vineyard Land Bank? Much land has been purchased and devoted to conservation, which is fine. Yet a precious asset, our year-round people, are squeezed out of the housing market. Why not split the land bank fee in half and devote one per cent to alleviating the housing crisis?
J. Luke
Edgartown
Comments
Very good idea!
Peter Fisher Vineyard HavenVery good idea!
Soon, very soon, this will be
Vineyard Girl Vineyard HavenSoon, very soon, this will be a playground solely for the rich and famous and those families willing to share homes with other families. This is largely due to the 2% fee extracted from nearly all real estate transactions here on this beautiful island and given to the Land Bank. Pick up the latest Land Bank map and see for yourself. Eventually, Land Bank will probably need to slow down its acquisitions in order to pay for the maintenance and policing of its already acquired properties. But, Land Bank may in the future "reach out" to the island communities for more $ to help with maintenance, claiming poverty. A group of concerned islanders would need to get together to see if it's possible to make an amendment to the law that dictates this 2% fee to Land Bank. Regarding one comment from Penny Wise: They state that the IHT is ripping through CPA funds. Does anyone remember the main marketing point for the CPA to get passed? It was to help to provide affordable housing for our own. What is the total % of CPA funds that have been earmarked to affordable housing to date? What is the total % of CPA funds that have been earmarked to "Beautification Projects" to date? The numbers might prove to be revealing. The CPA is for affordable housing! That is why it was created! In its years of existence, the CPA funds don't seem to be making a dent in the housing need. More $ is needed. Legislature is probably the answer.
Soon? How about a long time
Frank MillerSoon? How about a long time ago?
It is past time, way past
Jackie ChilmarkIt is past time, way past time to modify what the Land Bank is entitled to do.
They spend a lot on land that
MarieThey spend a lot on land that cannot be accessed. Up Island properties are bought for the neighborhood and not for access by regular people. They have their zoning to take care of their rural way of life.
Actually, that is a terrible
Penny wiseActually, that is a terrible and quite childish idea. Childish because the sight of a pile of money designated for a different purpose excites people like Mr. LUke and Jackie and Mr. Fisher to say, basically, as a three-year-old might: I want that! The IHT is already tearing through big chunks of CPA money.
Mr. Luke thinks that someone who has scrimped and saved a whole adult life to put together the $$$ to get a home here (most likely a hovel) should pay a percentage to subsidize others' housing? I don't think so. I will pay my share for land to be "banked" for the public, thus creating much of the value of this place. I would not agree to pay to subsidize housing for a washahore or anyone else whose income is likely greater than mine in an apartment built by IHT that costs nearly as much as a house. I would sooner take the Land Bank to court.
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