The Finance Committee of Nantucket convened on February 11, 2025, to discuss the fiscal year 2026 budget for the Community Preservation Fund, focusing on historic preservation, community housing, and open space projects. Linda Williams presented the committee's recommendations, highlighting significant allocations and ongoing projects.

The committee approved a total budget of approximately $4,054,420, with a substantial portion earmarked for historic preservation. This year, the fund allocated $2,724,420 specifically for historic preservation projects, including critical repairs to St. Paul's Church, which has been a long-term project for the committee. The church requires an HVAC and sprinkler system to protect its historic features, including the bell tower.

Additionally, the Nantucket Housing Authority received funding that will be matched by state funds, effectively doubling the impact of the local investment. The committee also discussed ongoing support for various historic buildings, including the Landmark House and the Greater Light, which are undergoing essential repairs to maintain their structural integrity and accessibility.

The discussion also touched on community housing initiatives, with the Interfaith Council receiving support for rental assistance programs. The committee emphasized the importance of balancing funding across historic preservation, affordable housing, and recreational projects, noting that a minimum of 10% of the total budget must be allocated to each category.

The committee members expressed concerns about the reliance on state funding, which has decreased over the years as larger communities have joined the program. They acknowledged the need for ongoing support for affordable housing, particularly given the island's unique challenges in maintaining its historic character while addressing housing needs.

In conclusion, the Finance Committee's meeting underscored the ongoing commitment to preserving Nantucket's historic resources while also addressing pressing community needs through strategic funding allocations. The committee plans to continue monitoring the effectiveness of these investments and explore new opportunities for community engagement and project proposals in the future.