Town of Truckee requests applications for housing pilot program
TRUCKEE, Calif. — The Short-Term Rental Workforce Housing Token Pilot Program is a new and innovative approach to workforce housing creation in Truckee.
The Truckee-North Tahoe region is experiencing a significant shortage of rental and for-sale housing that is affordable to people with jobs in Truckee and surrounding communities. The Token Program is intended to incentivize the creation of workforce housing by offering in-kind payment in the form of Tokens, which are redeemable for a Transient Occupancy (Short-term rental) Registration Certificates.
Interested Token Program participants should apply through the request for proposals process at https://www.townoftruckee.com/Home/Components/RFP/RFP/1222/1525. Applicants may propose to offer either existing housing units or newly constructed housing units as workforce housing for this program. The workforce housing unit must be located within the Town of Truckee boundaries, may not have any open code violations, and may not have an existing, similar deed restriction in place.
Selected proposals will require participants to deed restrict the workforce housing units for a term of fifteen years to receive the Token incentive. Each Token is valid for the fifteen-year length of the corresponding deed restriction, entitling the Token Holder to one Transient Occupancy Registration Certificate.
The value of a Token is that the Token Holder may receive a Transient Occupancy Registration Certificates without being subject to the waitlist. All other short-term rental program requirements will still apply. During the Token’s fifteen-year term, the Token may be re-used between eligible short-term rental properties and can be transferred (ie. sold, traded, or otherwise conveyed) to another entity. To learn more about the deed restriction requirements, use of Tokens, and selection process, visit http://www.townoftruckee.com/token.
Proposals are due on June 28, and must be delivered via electronic format to truckee@townoftruckee.com. Direct all questions regarding the RFP to Lynn Baumgartner, program analyst at lbaumgartner@townoftruckee.com or call 530-582-2492. Questions must be received by May 15.
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