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The Affordable Housing Trust unanimously authorized $550,000 to continue the Lease to Locals program. The meeting also noted that 28 units at Richmond Development’s Meadows I were added to Nantucket’s Subsidized Housing Inventory.
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The funding will support the continuation of Lease to Locals, a program intended to preserve housing for local residents. Trust members supported studying a rental preservation program, which staff said would be funded from the Trust’s $6.5 million override because bonded funds cannot be used for the short-term initiative. Discussion of expanding income restrictions to 250% of area median income was postponed to December 16, 2025.
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