Section 1. Notwithstanding the Restrictions set forth and defined in MGL Chapter 184 Section 31, the Town of Chatham may expend funds for the purchase of, or otherwise acquire; or may convey, Year-round Housing Occupancy Restrictions and Attainable Housing Restrictions, as defined in 760 CMR 76.00: Seasonal Communities, which serve a critical and necessary public purpose similar to Affordable Housing Restrictions, either in perpetuity or for a specified number of years, whether stated in the form of a restriction, easement, covenant or condition in any deed, mortgage, will, agreement, or other instrument executed by or on behalf of the owner of the land appropriate to (a) limiting the use of all or part of the land to year-round occupancy or occupancy by persons, or households of attainable income up to 250% AMI, in either rental housing or other housing; (b) restricting the resale price of all or part of the property in order to assure its affordability by future year-round occupant purchasers or attainable income purchasers; (c) in any way limiting or restricting the use or enjoyment of all or any portion of the land for the purpose of encouraging or assuring creation or retention of rental and other housing for year-round occupancy or occupancy by attainable income persons and households.

 Section 2. Any restriction contemplated and executed hereunder shall not require the approval or execution of the Executive Office of Housing and Livable Communities (as successor to the Department of Housing and Community Development) as may otherwise be required under Section 32 of Chapter 184 of the General Laws.

 Section 3. This act shall take effect upon its passage.