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Trust updates Lease to Locals eligibility and documentation, raises AMI cap to align with AHT maximum
Summary
The Affordable Housing Trust Fund approved updates to the Lease to Locals guidelines to align definitions and documentation with other Trust programs, expanded qualified‑tenant categories (self‑employed, community contributors, retirees) and voted to set the income limit at the Trust’s current maximum (240% AMI).
The Nantucket Affordable Housing Trust on Feb. 3 approved revisions to the town’s Lease to Locals program guidelines to align eligibility, documentation and renewal rules with other Trust programs. The board also voted to set the program’s income cap to the Trust’s current maximum (discussed in the meeting as 240% AMI).
Consultant Isaac Landman of Placemate walked members through the proposed changes: additions to qualified‑tenant categories (self‑employed year‑round residents, community contributors, retirees), updated documentation requirements (pay stubs,…
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