On August 6, 2024, Governor Healey signed the $5.16 billion Affordable Homes Act into law, addressing housing challenges across Massachusetts. Notably, the bill introduces a Seasonal Communities Designation, acknowledging the unique housing issues faced by municipalities, like Nantucket, with substantial seasonal economies and vibrant vacation home markets.

The Affordable Homes Act includes several new policies:

• Legalizing accessory dwelling units (ADUs) by right.
• Implementing eviction record sealing protections.
• Establishing a foreclosure mediation pilot program.
• Creating an Office of Fair Housing.
• Streamlining the use of state-owned land for housing.
• Creating a Seasonal Communities Designation.

Key benefits for Seasonal Communities:

• Establishing a year-round housing trust fund without the home rule process.
• Acquiring year-round housing occupancy restrictions to support the development of a middle-income year-round housing market.
• Acquiring and developing housing units specifically intended for public employees and artists.
• Increasing the residential property tax exemption up to 50% for primary homes of year-round residents.
• Adopting bylaws or ordinances enabling the construction of tiny houses and units on undersized lots, designated as year-round housing.

The bill did not include the Local Option Real Estate Transfer Fee, a critical funding source for Nantucket, which we will continue to strongly advocate for to ensure sustainable funding for affordable housing initiatives.