The West Tisbury selectmen Wednesday signed an agreement with the nonprofit Island Housing Trust to accept payment in lieu of taxes for three new apartments at Sepiessa.

Housing trust executive director Philippe Jordi, who was at the meeting, told the board the agreement will generate additional income for the town, although he did not detail an exact amount. Mr. Jordi said the number is determined with a standard formula used throughout the state, which is half the full value tax rate of the property plus $100, all multiplied by the number of bedrooms.

In December 2012, the Martha’s Vineyard Commission approved the plan to expand the Sepiessa Affordable Housing development from four to seven units. The three new units have six bedrooms total.

Mr. Jordi said the development is nearly completed and a housewarming thank-you party is planned for Oct. 29.

In other business, the selectmen said the town will respond to a letter from the Massachusetts Office of the Inspector General requesting documents relating to the Cape Light Compact. In the Sept. 24 letter, the IG asked the town to send information on all appointed Cape Light Compact representatives as well as meeting minutes and related documents. The request is part of an ongoing statewide review of dealings within the energy agency, according to a release this week from the Cape Light Compact, a Cape and Islands energy cooperative.

Town administrator Jennifer Rand said the requested turnaround time is short with a due date of Oct. 3.

“Luckily we don’t have that much to send,” Ms. Rand said. The documents will be mailed out on Oct. 2, she said.