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Trust approves guidelines and launches application process for year-round deed-restriction pilot with $2 million budget
Summary
The Affordable Housing Trust voted to approve updated program guidelines for a year-round deed-restriction pilot, authorized staff to begin accepting applications and named Housing Nantucket as the monitoring agency; staff said the pilot has $2 million available and that legal, appraisal and title steps will be required.
The Affordable Housing Trust voted July 15 to approve updated program guidelines for a year-round deed-restriction pilot and to authorize staff to work with the finance department to begin accepting applications. Staff said the pilot carries a $2 million budget and that the town has selected Housing Nantucket as the monitoring agency; a contract with Housing Nantucket is scheduled for Select Board approval on July 23. Housing Nantucket will handle application intake, income verification for buyers, and long-term monitoring and…
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