Trust approves two closing-cost awards and hears updates on rental-preservation program and housing-production plan

The Affordable Housing Trust on April 7 approved two closing-cost assistance awards and received program updates on rental preservation and the town's housing-production plan.

The trust approved up to $15,000 for closing-cost assistance for an applicant purchasing 10 Evergreen Way (Harper Kissle) and a second award for a Habitat for Humanity buyer at 7B Way Drive (Adrien Grizzle). Staff said any unused funds would be returned to the trust after closing.

Staff reported that the Select Board authorized $540,000 to launch a rental-preservation program; an RFP for a program administrator is in procurement and staff expects to issue it soon. Staff also reported Habitat for Humanity’s Way Drive project has used about 77% of its grant funds and that Tacoma Green (64 units; 55 income-restricted at 30–120% AMI) recently held a groundbreaking.

Barrett Planning consultants Tony and Judy Barrett presented a mid-process housing needs assessment. Key findings: Nantucket has an estimated 12,500 housing units with about 42% occupied year-round, a rising concentration of high-income households (37% with incomes of $200,000 or more in 2024), and a median home sale price reported at approximately $3.5 million last year. The first public workshop drew about 28 attendees and a first community survey received 64 responses; top concerns were a lack of affordable rental options, a shrinking year-round housing stock and the loss of long-term residents.

Consultants outlined next steps including a second survey (planned Apr. 20–May 15) focused on housing goals and a second workshop to help draft goals and implementation strategies.