Program Requirements
§    You must be a current resident of the Town of Eagle or Eagle County, or currently employed within the Town of Eagle or Eagle County to purchase a unit. You will be required to present  proof of your residency and employment. Persons neither, residing or employed within the Town of Eagle or Eagle County are eligible for the program only after a Local Employee Residence has been on the market for a least thirty (30) days. Employment includes both retired and disabled persons. 

§      It is the clear preference of this program to first provide affordable units to those persons that are both full-time employees and residents in the Town of Eagle.
   

§    You must apply to the Town and be certified in order to be eligible to purchase a unit.

§    You must be pre-qualified with a mortgage lender, and provide the Town of Eagle with a letter from the lender to that effect at the time of application. 

§    You must occupy the property as your sole, exclusive, and permanent place of residence during the entire time you own.

§    The property may not be used for rental income unless:

      - You choose to bring in roommates

      - You’re moving and you have the property up for sale

      - You’re leaving the area for up to nine (9) months and plan to return to the property
      - You have constructed an Accessory Dwelling Unit pursuant to the Town of Eagle Land Use Code.

      - The units will be subject to an appreciation cap and specific resale procedures, both intended
        to make the initial price as low as possible and keep it that way well into the future.

For more detailed information and Program Guidelines, please click here.

Deed Restrictions

In order to assure that there is an on-going supply of housing that is affordable in the Town all Local Employee Residency Units carry a deed restriction including a resale restriction that guides the future sales of these homes.

Each purchaser(s) must sign a document acknowledging their agreement to be bound by the recorded deed restriction. The deed restriction describes procedures for listing a home for-sale, an appreciation cap that allows the home to increase in value by the lesser of the Denver-Boulder CPI-U or 3% annually, plus permitted capital improvements.