The Islandwide housing bank appears to be headed back to the drawing board after Chilmark voters put the brakes on the plan at their annual town meeting Monday night.

The 88-year-old Chilmark moderator is nearly as storied as the institution of the New England town meeting itself.

Chilmark voters will decide a range of issues at their annual town meeting next week, including whether to back the widely-debated Islandwide housing bank.

A former town selectman and a newcomer to politics are vying for a single seat on the board of selectmen in the Tisbury annual town election Tuesday. The two candidates are running for the seat vacated by longtime selectman Tristan Israel.

After strong defeats in the three down-Island annual town meetings and a victory in West Tisbury last week, proponents of the controversial housing bank are turning their attention up-Island, where two more town meetings and a vote on the bank’s funding mechanism remain.

The veteran selectman will not appear on the ballot next week after 25 years in office. Elected leaders say he takes with him a wealth of knowledge.