County authorizes down‑payment assistance program aimed at middle‑income workforce households
The board authorized county staff to implement a down‑payment assistance program offering $50,000 deferred loans to eligible households (Western County up to 120% AMI; Eastern up to 150% AMI) with initial funding of approximately $550,000 to assist roughly 11 households.
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The Nevada County Board of Supervisors authorized a county‑sponsored down‑payment assistance (DPA) program Nov. 18 to expand homeownership access for moderate and middle‑income households. Housing staff presented program parameters: $50,000 loans for eligible applicants, deferred repayment until sale, 30‑year simple interest at 3 percent, and income eligibility set at up to 120% AMI in Western County and up to 150% AMI in Eastern County (Truckee collaboration) because of higher home prices there.
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