Word: preservationism
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The money from the tax would have been distributed to the 15 towns in Barnstable County, to pay for the preservation of open space and to help protect the region's water supply from overdevelopment.
The Cape land bank proposal is similar in structure to two other proposals that may affect Cambridge--the Community Preservation Act, sponsored by State Sen. Robert A. Durand (D-Marlboro) and the Cambridge Transfer Tax Bill, sponsored by State Rep. Alvin E. Thompson (D-Cambridge).
According to Durand's office, the Community Preservation Act would enable communities across the state to choose by local ballot referendum to adopt a transfer tax of up to 1 percent on the purchase of real estate.
Depending on their needs, communities would be able use revenue from the tax to pay for open space preservation, affordable housing, historic preservation, brownfields redevelopment and septic system improvements.
"It will hurt [the Community Preservation Act], no question," Turkington says.