Home Ownership for Median
Income Earners (the HOME Fund)

Home Builders

 

Deschutes County has a housing shortage. Be part of the solution by building a workforce home and receive a $30,000 Developer Incentive!

The HOME Fund program provides financial incentives to home builders to construct homes and sell them to home buyers employed in Deschutes County earning above 80% and up to 120% of area median income.

Developers who are approved for the HOME Fund will receive a $30,000 incentive upon recording a 20-year deed restriction with a title company guaranteeing affordability.

This program has been made possible through funding from Deschutes County.

Eligibility Criteria:

  • Location: Workforce homes must be built in Deschutes County.
  • Building Permit: must be filed with the applicable jurisdiction.
  • Deed Restriction: Long term affordability must be protected through recording a 20-year deed restriction. See the required deed restriction template here.
  • Price: The home sale price must be affordable to a household in Deschutes County earning above 80% and up to 120% of area median income. See the affordability matrix for specific affordable sale prices.
  • Qualified Buyer: Once built, the workforce home must be sold to an income- eligible buyer (household income up to 120% of Deschutes County area median income by household size) who is employed by a Deschutes County employer. NeighborImpact must determine buyer eligibility. See homebuyer requirements, eligibility, and application here.
  • Project Timeline:
    • NeighborImpact will only accept applications from developers for projects in the pre-building permit approval stage.

How to Apply:

  1. Apply for a building permit with the applicable jurisdiction.
  2. Complete the application for a Developer Incentive. See our downloadable application here.
  3. Ensure the application is fully complete – all fields must have information entered or the application will not be considered complete. You may add supplemental documents if needed.
  4. Submit your application to NeighborImpact. You may scan and email your application to HOMEprogram@neighborimpact.org, or drop it off at:
    The Bend NeighborImpact office: 20310 Empire Avenue, Suite A100, Bend.
    Hours: 8:30am-4:30pm M-F
    The Redmond NeighborImpact office: 2303 SW 1st St, Redmond.
    Hours: 8:30am-4:30pm M-F
  5. DO NOT submit your application to Deschutes County or at any other location than those listed in #4 above. Applications must be submitted by email or at one of the two NeighborImpact locations.

NeighborImpact will review submitted applications for eligibility.  Developer incentives will generally be obligated on a “first come, first served” basis for eligible applicants.

Funding for this program is limited and will be awarded to projects until such time as all funds have been obligated. Applicants for the HOME Fund are not guaranteed funding.

Program Process After Accepted Application:

Upon confirmation of program eligibility, the following items will be initiated by NeighborImpact:

  1. NeighborImpact will provide an award confirmation notification and return the application with a NeighborImpact representative signature.
  2. NeighborImpact will open an escrow account with a licensed Deschutes County title and escrow company.
  3. NeighborImpact will provide confirmation to licensed title and escrow company that the developer has submitted an application for a Developer Incentive and submitted a building permit to the applicable jurisdiction.
  4. NeighborImpact will submit the $30,000 incentive to the title and escrow company.
  5. The Developer Incentive will be paid by the title and escrow company to the developer after the deed restriction has been recorded.

Developer/Builder Requirements:

  1. Developer will record the required deed restriction on property.
  2. Developer is responsible to pay deed restriction recording fee and escrow fee.
  3. Developer will notify NeighborImpact when the workforce home is available for sale.
  4. Developer must sell the home to an income-eligible home buyer, who is employed by a Deschutes County employer. The home buyer must be approved and certified by NeighborImpact prior to home sale.

Affordability Matrix

Workforce homes must be sold at a price that is affordable to a household in Deschutes County earning above 80% and up to 120% of area median income. Maximum sale prices for workforce homes eligible for the HOME Fund, effective July 15, 2024:

Download the Affordability Matrix Here

 

Click Here for Frequently Asked Questions

 

Contact:

Before Application Submittal:  For program questions, eligibility, and related pre-application questions, please email MorganG@coba.org

After Application Submittal: For questions regarding an already submitted application, please email HOMEprogram@neighborimpact.org

 

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