The Workforce Housing Preservation Program is a homebuyer assistance program designed to secure our existing housing inventory for the local workforce. The program pays homebuyers up to 15% of a down payment (based on available funding) in exchange for deed restricting their home so that it can only be occupied by local workers. The funding can help homebuyers with down payments or complete renovations.
The Placer County Board of Supervisors approved this program on February 16, 2021 with a goal of acquiring 50 deed restricted homes throughout the County each year to create a marketplace of housing reserved for the local workforce. The deed restriction runs with the land for 55 years and auto-renews with each sale or transaction of the property.
Additional financing assistance may potentially be used in conjunction with the Workforce Housing Preservation Program. Financing assistance may be available through the Homebuyers Loan Program, WISH and IDEA First-Time Homebuyer Programs, and the First Time Homebuyer Assistance Program. In East Placer, the Martis Fund Homebuyer Assistance Program may be available to help qualified buyers secure down payment funds. Additional questions can be directed to Gina Jones at [email protected]
View the Workforce Housing Preservation Program Quick Application Guide here Version OptionsWorkforce Housing Preservation ProgramHeadline.
The application for the Workforce Housing Preservation Program can be filled out online, using the link below. If you would prefer to fill out an application in person, you may do so at the Community Development Resource Agency office in Tahoe City or Auburn.
The Workforce Housing Preservation Program should be compatible with most home loans that are on the market. While we encourage you, as a potential buyer, to find the mortgage lender that is the best fit for you, it is important that you discuss your interest in using the Workforce Housing Preservation Program with whomever you chose. The following list of lenders have already approved of the Program, making them great options.
Employer Assistance for Employees
Employers may pay into the Workforce Housing Preservation Program in order to guarantee that necessary funds are available for qualified employees looking to purchase a home. To learn more, visit the Employee Assistance for Employees page here.