This election season City of Kingston voters will have four ballot measures to consider. One is for establishing a Community Preservation Fund!
Sounds good but what is it?
Following on the success of models in Red Hook, New Paltz, Marbletown, and Gardiner, this fund will be used for the preservation of open space, lands of exceptional scenic value, marshes and wetland, undeveloped shorelines, public access to preserved lands, hiking trails, and historic places and properties. Land may only be acquired from willing sellers and cannot be otherwise taken.
How will it be funded?
With a real estate transfer tax on high-end real estate transactions. Most Kingston residents will never see this tax. Kingston renters and homeowners will NOT be affected by the tax. This tax is only for purchasers of Kingston real estate. The tax would be 1.25% on only that portion of a real estate sale above the Ulster County median sale price, or $123,500.
Who will oversee it?
The fund will be overseen by a citizen advisory board with seven members appointed by the Kingston Common Council. A majority of the members appointed shall have demonstrated experience with conservation or land preservation activities. No member of the Common Council shall serve on the board.
For more background on Community Preservation Funds, see Geddy Sveikauskas’s in-depth article on the subject from July 22, 2019 in the Hudson Valley One.
For more details about the Kingston Fund, visit Campaign for Kingston Community Preservation Fund: preservekingston.vote.