Nantucket opts into seasonal communities designation to boost affordable housing tools

The Affordable Housing Trust Fund meeting held on April 17, 2025, in Nantucket, Massachusetts, focused on two significant articles aimed at enhancing the town's housing strategies.

The first item discussed was Article 82, which seeks to opt into the seasonal communities designation. This designation would automatically make Nantucket eligible for new housing tools, including year-round date restrictions, increased year-round tax exemptions, and the potential for creating municipal and artist housing. The finance committee expressed a positive recommendation for this article, highlighting its potential to provide additional opportunities for affordable housing in the future.

The second item was Article 86, concerning a proposed real estate transfer fee. This article aims to authorize a half-percent fee on property sales exceeding $2,000,000, which would be paid by the seller. The funds generated from this fee would be directed to the affordable housing trust, with oversight from the select board for expenditures over $100,000. The finance committee also recommended this article positively, indicating strong support for its implementation.

During the meeting, there was a discussion regarding the Community Preservation Committee (CPC) bond authorization, with some attendees expressing confusion about its implications compared to other funding mechanisms. It was emphasized that the CPC's deliberative process led to the proposed funding amount, and the importance of utilizing available resources for affordable housing was reiterated.

Overall, the meeting underscored the town's commitment to addressing housing challenges through strategic legislative measures, with both articles poised to enhance Nantucket's affordable housing landscape. Further discussions and decisions are expected as the town moves forward with these initiatives.