Fernandes Files Bill To Subsidize Affordable Housing

FALMOUTH – As many continue to struggle financially during the ongoing coronavirus pandemic, Barnstable/Dukes/Nantucket State Representative Dylan Fernandes has filed HD 3764, a bill that would supplement affordable housing for many. 

“The multimillionaires coming to our shores, buying multimillion dollar homes, should be contributing a tiny percentage to affordable and workforce housing in our local communities,” said Fernandes.

In 2020, home sales in both Nantucket and Martha’s Vineyard surpassed $1 billion.

“Home sales here are at the highest point that they’ve been, homes have never been more expensive, and its causing a real crisis for the sustainability for our community,” said Fernandes.

The bill gives municipalities the option to impose a fee of up to 2% on home sales that are over $1 million. Up to 1.8% will go towards affordable housing within a particular town, while .2% will go to the state housing department of community development.

“The pandemic has exasperated this issue and made this issue significantly worse and more challenging,” said Fernandes.

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