Dillon Workforce Housing Resources

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The Town of Dillon is working on a variety of programs to serve our community. These programs have been approved the the Dillon Town Council and in the Town of Dillon budget.

Housing Helps Program

The Town of Dillon is partnering with Summit County and the Summit Combined Housing Authority on a deed restriction acquisition program, Housing Helps.

The Housing Helps Program works by incentivizing real estate buyers to place a deed restriction on their property which preserves the homes for local workers. Under Housing Helps the County will pay buyers to record a deed restriction on homes that are currently unrestricted market rate homes. The amount that will be paid for a deed restriction will vary depending on the market and how well the home meets current needs in the community. Typically, the County is looking to purchase deed restrictions on market rate housing units at a price of 10% - 15% of the current value of that property. Recipients may use the funds for down payment, home repairs, special assessments, or any other purpose. In return, the recipients are required to execute a deed restriction that requires the home to be occupied by a local worker. The deed restriction lets the local worker be the owner or a renter and it does not have an appreciation cap, income caps or rental caps.

Apply for the Housing Helps Program

Eligibility

The Housing Helps program is eligible to anyone who intends to purchase a property in Dillon and the Snake River Basin, including investors. Limited funds are available, therefore, the following guidelines will be used to determine whether a deed restriction may be purchased.

Is the property valued at an appropriate price point for workforce housing?
How much is the applicant requesting compared to other applicants?
Does the property currently restrict short term rental?
Is the property in a location that has a shortage of workforce housing?
Is the property already occupied by a local worker?
What is the unit type/number of bedrooms?
Is the property naturally occurring affordable housing that is at risk?
Will the lender on the purchase of a new deed restricted property subordinate to the County

There is no limit on the number of properties that you may restrict. The goal of the County is to obtain deed restrictions on as many properties as possible.

Deed Restriction

What is a Deed Restriction?

A deed restriction is an agreement that restricts the use of your property in perpetuity. In return for the payment from the County, the deed restriction will be recorded in the County records. Because the deed restriction will restrict how the property may be used, it is likely that the future value of the property will be impacted by the deed restriction.

The actual deed restriction is considered a light use deed restriction. The key terms include:

The property must be occupied as a primary residence by person(s) employed a minimum of 30 hours a week in Summit County.
The property may not be used as a seasonal or vacation home or as a short-term rental.
Unlike some other deed restricted properties these units will not be subject to any resale cap, appreciation cap, rental restrictions, or income cap. Retirement in these properties may be permitted subject to the County’s Housing Guidelines for retirement in deed restricted units.

Why Consider a Deed Restriction?

The County’s goal is to help locals stay in the community where they can live, work, play, and raise their families. The most recent Housing Needs Assessment indicates there is a significant shortage of housing to serve the needs of local families and employees. This impacts the ability of businesses to recruit and retain employees and provide the products and services needed. The lack of housing also impacts the character of our community when locals are unable to live in the community where they work. By deed restricting your property you are helping the County retain a variety of housing options for locals. You may use the proceeds that you received from the County in return for the deed restriction for any purpose.

What Funds are Available?

Every property is different and there is no set amount that the County will pay for a deed restriction. The value will vary depending on the size of the unit, the location of the unit, the proximity to jobs and or transit, and how well the unit meets the housing needs in the community. The County will evaluate the property but ultimately the price paid for a deed restriction will be the price that is negotiated and is acceptable to you and also to the County. The County may compare other similar properties or may review appraisals or other information from real estate professionals to determine a reasonable and acceptable price. The County estimates that the value of the deed restriction may be in the range of 10-15% of the market value of the property.

Supporting Documents and FAQ's

The Town of Dillon entered into an agreement with Summit County Government on October 22, 2024.

Housing Helps letter of Interest from Summit County Government

Resolution 61-24, Series of 2024 - A RESOLUTION OF THE TOWN OF DILLON, COLORADO TO APPROVE THE HOUSING HELPS MEMORANDUM OF UNDERSTANDING WITH SUMMIT COUNTY

Frequently Asked Questions

What happens to the deed restriction when I sell the property?

The deed restriction will remain with the property in perpetuity and future owners will be subject to the same restricted use.

Can I use a realtor?

Yes, you are strongly encouraged to use a Realtor to assist in the acquisition or sale of any property. Please advise your Realtor if you intend to utilize Housing Helps funds in the acquisition of a property. Many local Realtors are familiar with the Housing Helps Program and can assist with the process.

Can I rent my property or use it as an investment?

Yes, you may rent a property that is subject to this occupancy restriction provided the occupant meets the employment requirement.

For more information on the Housing Helps program, please visit Summit County's website or the Summit Combined Housing Authority's website.

Accessory Dwelling Unit Incentive Program

In an effort to create more workforce housing within the Town of Dillon and Summit County, the Town of Dillon has created an Accessory Dwelling Unit (ADU) Incentive Program which was approved by Dillon Town Council on June 7, 2022. The incentive program will allow new accessory dwelling units in single family or duplex homes to apply for reimbursement of the water and sewer tap fees if they sign a deed restriction for the ADU.

The deed restriction goes into perpetuity and would require that all renters work 30+ hours per week in Summit County. Any current ADU that would like to change their current deed restriction of no rentals less than six months to the new workforce housing restriction could also apply for reimbursement of the tap fees.

Prior to payment or reimbursement under the incentives program, the ADU owner must first execute the deed restriction, which shall be recorded in the Summit County property records.

Resolution 32-22, Series of 2022 - A RESOLUTION ESTABLISHING AN INCENTIVES PROGRAM TO ENCOURAGE OCCUPANCY OF ACCESSORY DWELLING UNITS BY MEMBERS OF THE LOCAL WORKFORCE.

Please contact the Planning Department for more information on this program.