We have mapped the 3.3 mm continuum, CO, HCO+, N2H+, and CS emission around a nearby Class I source, IRAS 22266+6845, in the L1221 cometary dark cloud. L1221 is a complicated star-forming region. It hosts three infrared sources: a close binary consisting of an east source and a west source around the IRAS source position and a southeast source ∼45" to the southeast (T. Bourke 2004, private communication). The east source is identified as the IRAS source. Continuum emission is seen around the east and southeast sources, probably tracing the dust around them. No continuum emission is seen toward the west source, probably indicating that there is not much dust there. An east-west molecular outflow is seen in CO, HCO+, and CS originated from around the binary. It is bipolar with an east lobe and a west lobe, both appearing as a wide-opening outflow shell originated from around the binary. It is likely powered by the east source, which shows a southeast extension along the outflow axis in the K' image. A ringlike envelope is seen in N2H+ around the binary surrounding the outflow waist. It is tilted with the major axis perpendicular to the outflow axis. The kinematics is well reproduced by a thin-disk model with both infall and rotation, and a column density peak in a ring. The ringlike envelope is not rotationally supported, as the rotation velocity is smaller than the infall velocity.