During a recent government meeting, officials discussed the ongoing efforts to address affordable housing on Nantucket, focusing on a significant grant proposal aimed at enhancing the Lease to Locals program. The select board is set to authorize a grant of up to $450,000 to Housing Nantucket, which will support the initiative that incentivizes homeowners to convert underutilized or short-term rental properties into year-round housing.

Launched in 2023 as part of the ACT Now Community initiatives in collaboration with Placemate, the Lease to Locals program has already unlocked 22 dwellings, providing permanent housing for 54 residents. This initiative aligns with the select board's strategic goal of increasing year-round housing opportunities on the island.

The Affordable Housing Trust voted unanimously in July to recommend the grant, contingent upon select board approval. Key conditions for the funding include income qualifications for tenants, which must not exceed 175% of the area median income—approximately $270,000 for a family of four. Additionally, the program has adjusted rent caps based on the number of bedrooms to enhance affordability.

Other stipulations include a one-year funding limit for a third of the program's funds and the potential eligibility of returning homeowners for a 50% incentive based on the initial grant amount. Notably, there was a recommendation to allow blood relatives to qualify as tenants, although town council has since advised against this, citing that it is not a practice employed in other locations managed by Placemate.

The meeting underscored the commitment of local officials to tackle the housing crisis, with plans to further refine the program and ensure it does not adversely affect current housing situations. The discussions reflect a proactive approach to creating sustainable housing solutions for the Nantucket community.