Because of the Nantucket Housing Needs Covenant Program, over 80 affordable year-round homes have been created since the inception of the program. The Town’s Affordable Housing Trust Fund, in conjunction with Housing Nantucket has recently started a pilot program to help property owners create Covenant Lots. Loans of up to $10,000 are available, interest free and on a first come first served basis, for property owners to use for the initial cost of creating the affordable Covenant lot. The money is to be used for such things as surveying and engineering fees, legal fees, recording fees and consulting fees. The loan will be paid back (to enable someone else to create another affordable lot) upon creation/transfer of the newly created lot. We have been working hard to remove some of the barriers to creating more affordable housing. In a market as challenging as the one we have on Nantucket, solutions will come in many forms. For more information please contact Housing Nantucket at 508.228.4422.