A one-article special town meeting will be held Monday on whether to lease town land to the private nonprofit Chilmark Preschool for the purpose of constructing their own building.

In a clear voice vote, residents passed the town’s $993,112 portion of the budget, giving the regional High School the fourth and final town it needed to get the budget to pass overall.

Monday's town meeting will reconsider the town’s $993,112 portion of the high school budget after Chilmark, West Tisbury and Aquinnah all voted down the financial plan at their annual town meetings this spring.

The proposed Island-wide housing bank took another step forward when Chilmark became the fifth town to give it a thumbs up at its annual town meeting Monday night.

After making several last-minute additions, the Chilmark select board approved a hefty 37-article town meeting warrant this week. Town meeting is scheduled for May 24.