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Affordable Housing Contact List

2007 Household Income Limits for Affordable Housing Buyers

Driven by a hot residential real estate market, construction activity in Truckee is at the highest level since the Town incorporated and continues to outstrip growth projections. Building permit data indicate that over 370 housing units were permitted for construction this year. This compares to the Truckee General Plan estimate of approximately 260 units per year for this time frame. Commercial activity includes phase 1 of Gateway East, a 13,000 sq. ft. retail, office and residential building under construction just east of the Hospital Medical Office Building and the initial phase of Featherstone, an interval ownership project located south of Interstate 80 at the Prosser Village Interchange.

Land Use Permit Activity - On the heels of this year’s construction activity, an unprecedented number of development projects are under review by the Town. Just a sample of applications in process include Planned Community-2 which was recently purchased by East West Partners. Processing of this project is on hold while the new owners sort out their plans for the 800-acre site. Four other projects involving Specific Plans, Master Plans or General Plan Amendments have also been submitted; the Planned Community-3 Specific Plan (90 acres at the southern end of the SR 267 Bypass planned for commercial and industrial development), the Hilltop Master Plan (30-acre portion of the Downtown Specific Plan area planned for mixed use development), the Mclver Hill Master Plan (80 acres just south of I-80 and east of SR 89S planned for mixed use development) and the Deerfield Village General Plan amendment which proposes to modify the General Plan Land Use from commercial to high density residential to accommodate 160 affordable housing units. Town policy requires an early public involvement process for each of these projects. This process, including informal workshops geared to obtaining feedback from Truckee residents, will begin in the near future. Keep an eye on the Sierra Sun and www.townoftruckee.com for information regarding these and other projects.

Affordable Housing - The increase in our housing prices is in large measure fueled by vacation home purchases supported by incomes earned outside the area. The downside of this hot market is that housing affordable to people that work in the Truckee Region has become much harder to come by, creating an affordability gap between local wages and housing costs. Two projects currently under construction will help address this issue. River Village Homes (nearly complete) provides 39 detached 3 and 4 bedroom single family homes that will be rented to families with incomes of less than 80 % of the average household income in our region. Sierra Village Apartment Homes provide another 56 units for rent to families meeting the same income criteria along with 16 market rate units, and will be completed later this year.

Other projects now in the land use process also have affordable housing components. The Boulders, a 180-unit Townhouse project on Deerfield Drive, proposes 32 units to be sold to families with incomes not exceeding 120% of the area's average household income. This threshold, defined by federal regulations as moderate income, currently has a maximum annual income of $58,550 for a family of four, which is the income ceiling for "affordable" housing. Planned Community 2 has a requirement that 100 out of the 600 housing units envisioned by the General Plan be affordable.

The Town will soon be conducting a Housing Needs Analysis and has prioritized the development of specific strategies addressing housing affordability over the next year. Other on-going planning activities scheduled over the next few months include the development of an Economic Development Strategy Report, completion of the Truckee Trails Master Plan and Environmental Impact Report, continued development of the Historic Preservation Policies and Programs and Air Quality Plan implementation standards. For information on any of these activities contact the Town of Truckee Community Development Department at (530) 582-7820 or cdd@townoftruckee.com.