County seeks $5 million to launch homebuyer match pilot targeting 80–140% AMI

Palm Beach County staff presented a proposed Homebuyer Match pilot program and asked the board to approve a $5 million allocation from the Workforce Housing Trust Fund to support down-payment and closing-cost assistance for eligible buyers.

Jonathan Brown of the Department of Housing and Economic Development described policy elements: the program would provide a cash match up to $50,000 per buyer for down payment, closing costs, minor repairs and points to buy down rates. Assistance would take the form of a forgivable second mortgage with a 50% forgiveness over a 15-year term; if a recipient sells before 15 years they may repay the county or transfer the lien to a new purchase within the county.

Staff proposed eligibility for households who currently live or work in Palm Beach County and who fall between 80% and 140% of area median income. Brown also sought direction on two design choices: whether to use a lottery or first-come-first-served approach (staff recommended first-come-first-served in cases where buyers already have sales contracts) and whether to bar applicants who owned a home within the prior two years.

Commissioners asked practical questions about speed of disbursement and prioritizing buyers who are contract-ready; Brown noted the county’s existing workforce housing program (since 2017) has assisted 247 buyers at roughly $7.9 million and suggested that historical averages inform estimates for this pilot.

Next steps: Staff sought board direction on eligibility rules and mechanics; no final budget vote was recorded in this session excerpt. If approved, the program would be administered with nonprofit partners to prioritize buyers who are mortgage-ready and have contracts in hand.