Trust fleshes out buy‑down and deed‑restriction program to help year‑round workers buy homes
Trust members discussed a proposed buy‑down (with deed‑restriction and deferred forgiveness mortgage structure), eligibility limits (e.g., local preference, years residency), a likely $800,000 purchase cap and possible max subsidies near $200,000; staff emphasized funding constraints and tradeoffs with CPA rules.
The full story
Rich walked the Trust through three linked program concepts: a buy‑down subsidy to make homeownership affordable to households above typical SHI levels, a deed‑restriction purchase option the Trust could finance, and a matching concept to help seniors downsize while preserving year‑round occupancy.
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