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Affordable Housing Trust reports progress: Tacoma Green groundbreaking, SHI gains and new incentive programs
Summary
Deputy housing director presented a quarterly update: Tacoma Green groundbreaking (64 rental units, 55 income-restricted), Habitat for Humanity construction on schedule, Sparks Avenue 32-unit rental project (15 units on SHI so far) and new preservation incentives and lease-to-locals successes.
Dylan, the town’s deputy housing director, briefed the Select Board on affordable-housing programs and projects covering January through March (with an early preview of quarter‑two items).
Key project updates included: - Tacoma Green: Groundbreaking held March 19 for a 64-unit rental development (55 income-restricted units between 30% and 120% AMI, plus nine market-rate units). The project uses both 4% and 9% low-income housing tax credits and partners including MassHousing. - Sparks Avenue (18–26 Sparks): A 32-unit rental development; 15 units have already been added to the Subsidized Housing Inventory (SHI), raising Nantucket’s SHI share from 8.04% to 8.28%. - Habitat for Humanity (Weight Drive): Project on schedule and on budget, with families beginning to move in; an affordable-housing restriction for 20 Nancy Lane was approved by the board during the meeting.
Program work highlighted included closing-cost assistance (up to $15,000 forgivable loans), lease-to-locals (multi-year incentives leading to 48 units converted since 2023), and a rental‑preservation program to support property owners with year-round affordable leases. Dylan described the structure and payment schedule for a rental-preservation incentive (total $18,000 over three years, paid in installments to encourage retention) and noted procurement and administrator selection steps.
Dylan said the town remains in Chapter 40B safe harbor through Dec. 10, 2027, and that the housing-production plan process is underway with Barrett Planning Group, including stakeholder interviews and public workshops this summer.
What’s next: Staff will continue procurement for program administrators, complete next phases of development permitting and return with budget and contract details when available.
