TAHOE CITY, CA (MPG) - Placer County began accepting applications to fund new deed-restricted housing units for the local workforce in North Lake Tahoe.

The Launchpad program, which is designed to support new construction of workforce housing as well as conversion projects, will open $1 million in funds for the first phase of the program. Applicants can submit between April 23 and May 14.

"We're excited to get this process started and begin receiving applications," said Tahoe housing specialist Tim Cussen. "This initial funding will allow us to gauge regional interest in the program which will help us develop a more comprehensive long-term funding strategy and really launch this program off the ground."

Incentives are provided on a per-unit basis within three categories:

Category 1 - $200,000 per unit for multifamily, condos, townhomes, non-residential and residential conversions, plus other housing projects deemed appropriate

Category 2 - $125,000 per unit for accessory dwelling units

Category 3 - $50,000 per unit for single room occupancy units

Incentives may be reserved during the development process but are issued upon receipt of the certificate of occupancy. All construction must be located in unincorporated eastern Placer County and housing must be restricted to households with at least one full-time employee (or the equivalent) working within the Truckee Tahoe Unified School District geographical boundaries.

This program is open to nonprofits, contractors, individuals and other interested entities. Eligible participants and their staff or contractors must have sufficient experience, capacity and training in housing development. Project entitlements must also be in place for eligible participants.

The Launchpad program guidelines and distribution of transient occupancy tax funds from the general fund and transient occupancy tax reserves were approved by the Board of Supervisors at its April 1 meeting.

Applications submitted by May 14 will receive equal consideration for funding.

 

To apply, visit the Launchpad site: https://www.placer.ca.gov/10115/Launchpad or click here to view the Notice of Funding Availability.