GOAL

• Identify and apply for grant funding to continue planning efforts, coordinate proposed initiatives, and organize future Summits.

• Identify and apply for grants to support new housing development.

• Establish a working group to explore new and established funding sources for housing projects. Those could include efforts at the state and local level:

  • Local Option Sales Tax. Identify and organize residents from island towns who are interested in local option sales tax, create an advocacy group, and work with the Chambers of Commerce to seek support for state efforts. Coordinate with state representatives.

  • Research additional tax related strategies for funding housing development – e.g. transfer tax and other progressive tax mechanisms around second, third, fourth home ownership that could feed a housing trust fund.

  • Research and outline the idea of a Housing Trust Fund. This fund could be used to help address the cost of new public infrastructure involved in additional development and take the financial burden off would-be developers.

  • Explore options for local TIF districts that could create funding for year-round housing and municipal infrastructure improvements.

• Continue collaboration between non-profit leadership to develop coordinated funding efforts around housing development.