Public hearing on Proposed Transfer Fee

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https://www.somervillema.gov/news/public-hearing-proposed-transfer-fee-home-rule-petition-be-held-wednesday-april-4

City notice:

Members of the public are invited to attend a public hearing hosted by the Board of Aldermen to discuss the proposed transfer fee home rule petition. The hearing will take place on Wednesday, April 4, at 6 p.m., at Somerville City Hall on the 2nd Floor in the Aldermanic Chambers.

 

In 2015, Mayor Curtatone established the Sustainable Neighborhoods Working Group to seek bold and innovative ideas that would support the City’s efforts to protect and preserve existing affordable housing, expand the City’s resources for creating more affordable housing, and address the need for middle-income housing for working families. 

 

After nearly a year of research and deliberation the Working Group, which was chaired by Alderman Mark Niedergang and former City Housing Director Dana LeWinter, issued a series of recommendations, including that the City adopt a requirement of a fee of approximately 1 percent upon certain real estate transactions (known as a “transfer fee”) to support affordable housing with specific exemptions be established for transactions such as ownership transfers between family members.

 

The Board of Aldermen will also accept official written comment for the record through Friday, April 6, 2018, 5 p.m. Please send your comments to boardofaldermen@somervillema.gov and cityclerk@somervillema.gov.

 

Visit www.somervillema.gov/transferfee for more information.