The Truckee Home Access Program (THAP) works to create housing opportunities for people who work full-time in the Truckee region to live locally. THAP offers incentives to buyers, sellers, businesses, and developers to reserve homes for income qualified local workers using a fifty-five-year deed restriction.
Recently, they updated the income limits for 2023 dependant upon the number of people in the household. You can view the new income limits here.
They are offering Lunch & Learn workshops available to the public, businesses, and lenders that provide information on program details,
Program Highlights
Buyers can apply for compensation up to $150,000 for a maximum $937,500 home purchase price.
Sellers can sell at a reduced price and apply for compensation to make up the difference between the reduced price and the appraised value.
Local Businesses can apply for compensation to rent or sell homes to local workers, including their own.
Developers can apply for compensation to build homes for sale or rent to local workers.
On a case-by-case basis the Town provides below market rate loans to deed restricted, affordable, and workforce housing projects. They also offer a prioritized review process and building inspection during construction for projects serving 100% low to moderate income levels (up to 80% AMI).
Housing Policies and Code
In an effort to create more affordable housing opportunities for locals, the Town of Truckee has updated their code to include the following:
Inclusionary Housing Ordinance – requires all new residential housing developments to include affordable units in perpetuity (15% of total unit count must be affordable).
Workforce Housing Ordinance – Requires that new Commercial projects to build housing for a certain percentage of their employees.
Density Bonus Ordinance – Provides density bonuses, concessions, and incentives for projects that construct low and moderate income housing.
Lunch & Learns are a free monthly forum for members to come together to hear from a speaker and then discuss ideas, concerns, and best outcomes in a roundtable discussion format.
You can view the FAQs about the Truckee Home Access Program, deed information and participation here.
If you would like to attend one of their monthly workshops, you can sign up for the following dates:
Saturday, August 26, 10 am (Spanish interpretation available)
Thursday, September 7, 11:30 am
Thursday, September 14, 7 pm (Spanish interpretation available)
Attendees are asked to bring their lunch and the Chamber provides drinks and dessert. The program begins right at 12 p.m., so please plan to arrive a few minutes early.
A recording of the workshop is now available for interested applicants who are unable to attend the virtual workshops. Click here and fill out a short registration form to receive a link to the recorded workshop.
Contact me today for more information about the ordinances, opportunities and programs that are currently active in the Truckee and Lake Tahoe community.
Leave a Reply