Town program preserves homes for local workers with 55‑year deed restriction; 24 households helped so far

The Town of TruckeeHome Access Program (THAP) helps income‑qualified people who work locally buy homes inside town limits by providing up to $150,000 per transaction and placing a 55‑year deed restriction on properties.

THAP participants and town staff described the program at the Truckee Chamber of CommerceGood Morning Truckee event, saying the program is designed to "preserve and protect homes to create places for people who work full time in the Truckee region to live locally." Britney, a Truckee Police Department professional staff member and THAP recipient, told the audience that the program paired her with a realtor familiar with THAP and allowed her and her husband to buy a home they otherwise could not afford.

The program's key features, as explained by town staff and participants, include a deed restriction that remains in effect on resale, income and local‑employment eligibility at purchase, and flexibility in how funds are used. Lynn Baumgartner, town housing analyst, described the deed restriction as a 55‑year restriction that "renews on transfer resale," limiting future sales to households that both work locally and meet the programarea median income (AMI) limits. Lynn added the restriction also prohibits short‑term rentals.

Town staff and the recipient said the program covers buyers, sellers and participating local businesses and that funds may be applied to down payment, purchase closing costs, or home repairs depending on the household's needs. Britney said she used the assistance for a down payment but that the program does not require funds be used only for down payments.

Program scale and funding: town presenters said THAP has closed on its 24th home and that the program has served more than 50 people across those households. Staff reported total program expenditures of about $2.5 million to $2.6 million so far and estimated unspent funds remaining in the current fiscal year (speakers gave an approximate remaining balance and said it would support roughly six to nine additional homes depending on purchase prices). Town staff also said Council has added funds to the program in prior years when demand exhausted the original appropriation.

Eligibility and geography: Lynn and Britney said applicants must be income‑qualified and at least one household member must be employed locally for the household to qualify. The assistance and deed restriction apply only to properties within the Town of Truckee; applicants who live or work outside town limits may need to pursue separate county or neighboring‑jurisdiction programs.

Program interactions: presenters said THAP has been used alongside other funding in some cases (for example, Martis Fund loans were cited as a partner source), but once a property carries the THAP deed restriction it is not eligible to receive subsequent THAP assistance again on resale.

Why it matters: town staff and beneficiaries said the program aims to preserve existing housing stock for workers in a market where purchase prices and competition for housing are high. Speakers urged eligible sellers and buyers to consult the town website and the housing office for program details and application timelines.

Sources and next steps: staff said THAP funding and the program structure are budgeted annually and that future allocations depend on Town Council decisions during the budget process; they also encouraged interested buyers and sellers to use the Town of Truckee website resources and to contact the housing office for guidance.