Town Seeking Properties to Purchase for Neighborhood First

Through the Affordable Housing Trust, the Town of Nantucket is seeking to purchase properties in scattered locations for inclusion principally in a rental program for year round residents which will count toward the Town’s state-mandated 10% affordability requirement (the Subsidized Housing Inventory or “SHI” list). In 2019 Annual Town Meeting authorized bonding up to $20 million in order to fund the program. The state requires that 10% of the housing units in any community meet affordable guidelines in order to stay in safe harbor. from unfriendly 40B developments. Nantucket is currently at about 4%. Because Nantucket has a certified Housing Production Plan in place, we are allowed to stay in safe harbor by creating a certain number of units each year on our way to achieving the 10%. Nantucket is currently in safe harbor until June of 2021.
A request for proposals has gone out from the Town requesting applications from property owners who would like to see their property go to meet this critical year-round community need. Responses are due on October 22, 2020. For more information please see: Affordable Housing Trust