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Nantucket Affordable Housing Trust approves $540,000 rental-preservation pilot to cover 30 units
Summary
The Trust approved a three-year, $540,000 pilot to preserve rental units, establishing program rules, administration and a mechanism to revisit funding if demand changes. Officials emphasized the pilot nature and restrictions on renting to immediate family.
The Nantucket Affordable Housing Trust on Feb. 17 approved a three-year, $540,000 rental-preservation pilot intended to cover up to 30 units.
The vote, approved unanimously by roll call, implements program guidelines the Trust first discussed on Feb. 3 and funds an initial cohort of 30 units over three years. Trustee Penny Dye, who made the motion, described the program as a test: “This is a pilot program, and we’re not gonna know until it’s out there what the response is,” she said.
Staff told the Trust that the $540,000 total is…
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