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Home > Government > Afforable Housing > Buy Downs
Buy Downs
Buy-down opportunities include the purchase of housing options at market-rate and then reselling with deed restrictions in place at an affordable rate. The town will continue to explore such opportunities as they become available.
Using the revenue generated from the town’s impact fees, will be the primary source of funding for buy-down of housing opportunities. Below outline the estimated revenues the town anticipates from the county-wide initiative that passed in 2006 (Measure 5A), which established impact fees for new development and a sales tax percentage for affordable housing.
| Year | Impact Fees | Sales Tax | Total |
| 2007 | $10,000 | $177,188 | $187,188 |
| 2008 | $42,300 | $177,654 | $219,954 |
| 2009 | $74,900 | $178,121 | $253,021 |
| 2010 | $87,750 | $178,590 | $266,340 |
| 2011 | $87,750 | $179,059 | $266,809 |
| 2012 | $87,750 | $179,530 | $267,280 |
| 2013 | $87,750 | $180,002 | $267,752 |
| 2014 | $87,750 | $180,476 | $268,226 |
| 2015 | $87,750 | $180,951 | $268,701 |
| 2016 | $87,750 | $181,426 | $269,176 |
| GRAND TOTAL = $2,534,448 | |||
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Related contacts
Mark Gage
Community Development Director
(970) 668-5276 x3036
Related documents
TOF Owned Land for Mixed Income Housing Map