Fraser Deed Restriction Program
The Town of Fraser is launching a new deed restriction program to assist in providing and maintaining affordable housing opportunities for full time working residents in the Fraser Valley.
The lack of affordable housing has been identified as a critical factor in maintaining our quality of life as local businesses struggle to find employees to provide goods and services to our residents and visitors. This voluntary program is intended to help mitigate this problem.
The Fraser Deed Restriction Program is a voluntary program that provides an opportunity for a property owner to restrict the property to full time working residents in exchange for funds that may be used for any purpose.
• The property may be occupied ONLY by a full-time working resident employed in the Fraser Valley. The resident could be the homeowner or a renter.
Unlike many other deed restriction programs, there is no income limitation for the residents and there is no appreciation cap.
How does this affect the current and future value of the property?
• The owner may sell the property at fair market value provided the next owner restricts occupancy to either the owner or renter that is a full-time working resident of the Fraser Valley.
Why would a current or future property owner consider restricting their property via this program?
• The funds can be used by the property owner for any purpose. These might include down payment on a mortgage loan, maintenance expenses, college tuition, debt payments, and/or any other purpose.
If you are interested in considering participation in this program, the Town of Fraser would like to hear from you (whether you are an individual, family, or business owner). To discuss potential participation in the program please complete the application below.
For additional information email Jeff Durbin, Town Manager or call 970-726-5491 ext. 202