Nantucket Finance Committee Rejects $119 Million Island Home Borrowing in Split Vote

Finance Committee · Meeting of March 9, 2026

Nantucket's Finance Committee voted 4-3 against recommending a $119 million borrowing authorization for a new Our Island Home nursing facility, sending the article to town meeting with a negative recommendation. The Monday vote followed a lengthy debate over a pro forma by Clifton Larson Allen director Tom Hammond projecting annual operating losses of $4.2 million and total annual town investment, including debt service, of $14.8 million in the facility's first year, growing each year through a projected total of roughly $240 million in losses over 15 years. Member Joseph H.

Wright said flatly, "We're being asked to approve $124 million of borrowing to incur $240 million of losses over 15 years," while supporters argued the question was whether this was the most financially feasible path to continue an existing community service. The committee voted unanimously to approve $5,023,854.73 in Community Preservation Committee grants across 17 projects, a $16.5 million capital article anchored by sewer upgrades, and two stabilization fund transfers totaling $500,000 for employee accrued liabilities at the airport and the general fund.

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Source: the Finance Committee meeting of March 9, 2026, reported from the official video recording and transcript.