UPDATE: Placer County has just announced a new funding round aimed at tackling the critical workforce housing shortage in North Lake Tahoe. Starting February 25, interested parties can apply for a share of the $3,275,000 allocated for housing projects, a move that could significantly impact the region’s housing landscape.
The funding, which combines $3 million recommended by the North Tahoe Community Alliance board and an additional $275,000 from previous allocations, is expected to open doors for much-needed housing solutions. The Placer County Board of Supervisors will vote on these funds in a meeting scheduled for February 3. If approved, the application window will remain open until 11:59 p.m. on March 18.
Tim Cussen, a housing specialist in Tahoe, stated, “This funding is an important tool for addressing the region’s workforce housing shortage.” He emphasized that the program aims to bridge financial gaps that often hinder housing projects from moving forward, making it a pivotal step for local residents and developers alike.
The funding comes from the TOT-TBID Dollars at Work program, which reinvests tourism-generated revenue back into the community. Since 2021, this strategy has channeled over $40 million into 58 projects and programs aligned with local needs, according to Placer County’s official website.
The Launchpad program, designed to enhance the feasibility of workforce housing projects, aims to impose 55-year deed restrictions on local worker housing. This ensures that these properties remain accessible to the community whenever they are sold. In the inaugural funding round last year, $725,000 was allocated to two housing developments in Kings Beach, which have already begun to address the needs of vulnerable populations, including those with mobility impairments.
Residents and developers eager to contribute to solving the housing crisis in North Lake Tahoe are encouraged to apply for funding during the upcoming application window. More details and guidelines are available on the county’s website.
This funding opportunity represents a significant chance to impact the workforce housing situation in North Lake Tahoe. As the March deadline approaches, stakeholders are urged to act quickly to secure their share of the available resources.
