Legislation authorizing a Brookline Land Bank

Petitioner: David Lescohier, TMM11

Annual Town Meeting, May 2018

The Brookline Land Bank (BLB): Finances the purchase of suitable, for sale property when it becomes available to address intensifying development pressure and growing insufficiency of public-owned land in Brookline for schools, athletic fields, parks, conservation areas, affordable housing, and economic development.

Powers: Levy a real estate transfer tax; purchase and own land; borrow through notes and bonds; hire staff, accept gifts and grants; transfer funds to Housing Advisory Board and the Conservation Commission accounts; write regulations; and set policies; etc.

Revenue Source: A real estate transfer tax with the rate determined by BLB commissioners, but not more than 1.0%, on all (non-exempt) real estate transactions in Brookline, paid to Town treasurer - cannot register title at Norfolk registry until paid.

Exemptions: Residential exemption (determined by BLB commissioners, but at least $500,000), non-profit buyer & house of worship, affordable housing, transfers of convenience, up/down sizing within Brookline, and others.

Allocation of Funds: BLB Commissioners may recommend to Town Meeting to appropriate a portion of BLB revolving account funds for Brookline Public Schools educational purpose land acquisition, the Housing Advisory Board for affordable housing land acquisition; the Conservation Commission for the purchase of land for open and recreational space purposes; a portion for economic development land acquisition; and any remainder may be appropriated into a reserve account. The appropriations shall benefit the overall best interest of the Town, as circumstance may require, based on analysis of the available comprehensive, housing production, and open space plans and reports, and after a public hearing.

Land Bank Commissioners: Members of the Selectboard.

Subject to Town Meeting Vote: The Brookline Land Bank appropriations and any borrowing must be approved by Town Meeting vote.

Path to Approval: This warrant article is a home rule petition resolution. It will be submitted for the May 2018 Town Meeting. Should the Article be voted favorable action, the Select Board will be authorized to request a General Court representative to file this petition for a special law, which will then be assigned to committees, voted in the House and Senate, and signed by the Governor. Final acceptance would require a majority vote on a referendum placed on the ballot of the next Town or State election.
Official Town Meeting Vote Select Board Advisory Board

Favorable Action

Favorable Action

Favorable Action

Majority Vote

5-0-0

18-3-2
Final Result:

Favorable Action
Community Organization Recommendations
PAX Green Caucus
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.


https://www.brooklinema.gov/DocumentCenter/View/14385/-May-22-2018-Annual-Town-…

Categories: