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HD 4975

An Act relative to affordable housing trust fund of the town of West Tisbury

194th Legislature (2025-2026) Introduced by Thomas Moakley

HD 4975: An Act relative to affordable housing trust fund of the town of West Tisbury OverviewBill Number: HD 4975 Title: An Act relative to affordable housing trust fund of the t

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Bill Summary · HD 4975

HD 4975: An Act relative to affordable housing trust fund of the town of West Tisbury

Overview

Bill Number: HD 4975
Title: An Act relative to affordable housing trust fund of the town of West Tisbury
Status: Proposed bill
Introduced: November 29, 2025

Purpose and Intent

The primary goal of this bill is to establish an affordable housing trust fund for the town of West Tisbury. The trust fund would provide a dedicated source of funding to support the development, preservation, and rehabilitation of affordable housing units within the town. This legislation aims to address the growing need for accessible and affordable housing options for low- and moderate-income residents in West Tisbury.

Key Provisions

  • Creates the West Tisbury Affordable Housing Trust Fund as a municipal fund to be used exclusively for affordable housing purposes
  • Allows the town to appropriate money into the trust fund from various sources, including local tax revenue, state/federal grants, private donations, and other funding mechanisms
  • Outlines the permitted uses of the trust fund, such as providing down payment assistance, subsidizing rental units, and supporting the construction or renovation of affordable housing
  • Establishes a five-member Affordable Housing Trust Board to oversee the management and disbursement of trust fund monies
  • Requires the trust board to develop and publish an annual affordable housing plan detailing the fund's activities and priorities

Affected Parties and Impacts

This bill would primarily benefit low- and moderate-income residents of West Tisbury by increasing the availability of affordable housing options in the town. The trust fund could also incentivize developers to include more affordable units in new housing projects. Additionally, the town government and local affordable housing organizations would play a role in administering the trust fund and implementing its initiatives.

Procedural and Timeline Considerations

HD 4975 has been introduced in the state legislature and is currently under consideration by the Joint Committee on Housing. If passed, the bill would require the town of West Tisbury to establish the affordable housing trust fund and appoint the oversight board within 6 months of the law's effective date. The trust board would then be responsible for developing and implementing the town's affordable housing plan on an annual basis.

Compiled from official sources — confirm details with the bill’s official record.

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