Workshop tonight on affordable housing

The Sierra Nevada Community Land Trust is holding a workforce housing buyers' seminar at 7 p.m. tonight at the CVIC Hall in Minden.

The nonprofit land trust is accepting applications from potential buyers for affordable workforce housing in Carson Valley

The trust is working with private funding sources as well as government agencies to subsidize the cost of a home to a low- to moderate-income buyer who earns less than 80 percent of the median household income for the area, currently $57,750 for a family of four in Douglas County.

The subsidy removes all or most of the land cost from the purchase price of the home. Provisions have been made with local financial institutions for financing the home and the owner would receive a 99-year lease for the land from SNCLT.

At the time they choose to sell their home, either the homeowner or SNCLT will offer it to another qualified buyer. The original owner will receive a predetermined share of the appreciation and SNCLT will retain the remaining equity.

This remainder will be used to further subsidize the home and keep it affordable for the next buyer, according to land trust members.

Information, 783-6255.


Sierra Nevada Community Land Trust


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