Legislation authorizing a Brookline Land Bank
|Official Text of the Article
VOTED: That the Town adopt the following resolution:
A RESOLUTION CALLING FOR REFERRAL TO A SELECT BOARD COMMITTEE TO CONSIDER A GENERAL COURT HOME RULE PETITION THAT WOULD AUTHORIZE THE TOWN OF BROOKLINE TO IMPOSE A REAL ESTATE TRANSFER TAX AND ESTABLISH A BROOKLINE LAND BANK
WHEREAS: There is evidence that Brookline's 2010 population will increase 12% - 17% by 2030;
WHEREAS: In view of limits on Brookline's revenue growth and projected expense increases to serve a growing population, there is unlikely to be sufficient funding from existing sources;
WHEREAS: Authorities on municipal taxation point out that a well-designed real estate transfer tax can be equitable, low impact, inexpensive to administer, and therefore could be an appropriate form of taxation to address currently underfunded needs of the Town;
WHEREAS: Currently underfunded needs of the Town include public land devoted to schools, parks, open space, recreational facilities, playgrounds, and conservation areas; also real estate that is suitable for affordable housing and for economic development to expand the Town's commercial tax base;
WHEREAS: A Brookline Real Estate Transfer Tax could be an additional revenue source;
WHEREAS: A Brookline Land Bank could be well suited to operate within the Town's organizational structure and financial policies and could be specifically adapted to and compatible with the unique combination of long established urban and suburban neighborhoods and commercial districts in Brookline.
NOW THEREFORE BE IT RESOLVED AS FOLLOWS: That the Select Board appoint a committee to study the value to the Town of seeking State approval for the adoption of a municipal level real estate transfer tax and for establishing a multipurpose Brookline Land Bank, the specifics of funding and operating the Land Bank, and other topics which the committee may determine to be relevant. The committee shall issue a report and make recommendations on or before March 1, 2019, accompanied by a possible warrant article.