The Richmond Meadows II (Phase 2A) and (Phase 2B) Rental Apartment Development Project is comprised of
24-unit and 16-unit phases of the total 225-unit rental apartment community located off Old South Road in
Nantucket. This lottery is for the series of 16 units of affordable apartment units which are scheduled to be
available for initial occupancy in the late spring or early summer of 2022). These 16 affordable rental apartments
will be made available through this application process and will be rented to households with the following
annual income limits and at the following monthly rents:

– Six (6) Units will be Rented to Households Earning 50% or Less of the Area Median Income (AMI)
– Four (4) Units will be Rented to Households Earning 80% or Less of the Area Median Income (AMI)
– Six (6) Units will be Rented to Households Earning 100% or Less of the Area Median Income (AMI)

The MAXIMUM Household Income Limits are as follows:

50% AMI Restricted Units:  $47,950 (1 Person), $54,800 (2 People)

80% AMI Restricted Units:  $65,950 (1 person), $75,350 (2 people), $84,750 (3 people) $94,150 (4 people),

100% AMI Restricted Units:  $95,270 (1 Person), $108,880 (2 People), $122,490 (3 People), $136,100 (4 People)