In Opposition To The Housing Bank Transfer Fee Legislation

To the editor: I am writing as a Nantucket resident concerned about Bill H.3903.

I find it troubling that the Nantucket government is urging its citizens to lobby the state for permission to raise our taxes through a property transfer fee—essentially so they can expand local real estate development under the banner of “affordable housing.”

Before Nantucket is locked into dedicating more money to more development, I urge you to consider the island’s capacity limits. Our infrastructure is already strained; our sole-source aquifer faces PFAS contamination risks; we lack immediate mutual aid from neighboring towns in emergencies; and we hold both an Environmental Justice designation and National Historic Landmark status. These realities make unchecked growth especially dangerous.

I also urge you to review the track record of Nantucket’s local affordable housing entities. Their projects have faced major cost overruns, they have been cited for Open Meeting Law violations, and there are concerns about undisclosed dealings with private 40B developers that overrode unanimous ZBA decisions.

Finally, subsidizing housing at this scale only props up Nantucket’s for-profit real estate industrial complex. It does little to bring prices down and instead fuels a cycle of dependency on subsidies. That broader problem is not being addressed.

Sincerely,

William A. Willauer

This letter was originally sent to Senator James B.Eldridge, Senate Chair for the Joint Committee on Revenue, and Representative Adrian C. Madaro, House Chair for the Joint Committee on Revenue