Frisco Housing Helps Program

Overview of Frisco Housing Helps Program- Program Suspended Temporarily Starting June 2025

How to be a Part of the Solution: Frisco Housing Helps

The Town of Frisco has a program, Housing Helps authorized by Resolution 21-17, where the Town provides cash for a deed restriction in order to incentivize home buyers and homeowners to deed restrict their properties to maintain and sustain homes for locals working in the community. The Town in turn pays buyers, businesses, current property owners, and investors to accept a deed restriction on homes that are currently without a deed restriction.  

What kind of deed restriction? 

• The most flexible type- recipients of Housing Helps assistance are required to execute an occupancy-only deed restriction, where occupants (owners or renters) must work at least 30 hours a week at businesses within one mile of the Ten Mile Basin- basically Copper, Frisco (including the hospital, County Commons, and the middle school) and Farmer’s Corner (including the high school). 
• There are no income caps, no price appreciation caps, and no household size requirements as part of this occupancy-only deed restriction. 

How much cash assistance? 

• 10-15% of the value of the property- The Town estimates that the value of the deed restriction will likely be in the range of 10-15% of the market value of the property.
• The amount paid for a deed restriction will vary depending on the market and how well the home meets the current needs in the community.
• Participants may use the funds for anything, including using it as part of their down payment. 

Program Options

• Option 1: Town purchases a deed restriction from a new home buyer who can use that cash assistance for anything, including as down payment assistance. Buyers may include businesses or investors who want to rent their properties to occupants who work at least 30 hours a week at businesses within one mile of the Ten Mile Basin.
• Option 2: Town purchases a deed restriction from a current property owner (including businesses and developers) and then this property has a deed restriction that limits occupancy to local workforce community members who work at least 30 hours a week at businesses within one mile of the Ten Mile Basin.
• Option 3: Town purchases a market rate or existing deed restricted housing unit and resells the property with a deed restriction limiting occupancy to local workforce community members. Income caps, price appreciation caps, and/or household size limits may be imposed at the discretion of the Town if the property is purchased by the Town.
• Option 4: Town provides financial assistance to a current property owner to construct an accessory dwelling unit that is deed restricted to local workforce community members who work at least 30 hours a week at businesses within one mile of the Ten Mile Basin.
• Option 5: Town partners with Summit County to purchase a deed restriction from a current property owner (including businesses and developers) that limits occupancy to local workforce community members with no income cap, price appreciation cap, or household size requirement.
• Option 6: Town can purchase a deed restriction from the current property owner who has lived in the property as a principal residence for at least the previous seven years. The restrictions limiting occupancy to local workforce community members would no longer apply, but requirements such as income work/live requirements (work more than 30 hours per week in the area) would apply to the next owner. This allows someone who is retired to place a deed restriction on their home for the next owner and still live in that home while retired.

How to Apply:

• As of June 2025, Housing Helps assistance has been temporarily suspended, due to funding constraints, as housing funds are currently being used to construct new workforce housing.
• When funds once again become available, then interested community members will be encouraged to complete the online Housing Helps application.
• If approved, Town staff will assist with processing the Housing Helps Purchase Agreement and Housing Restrictive Covenant.
• Process typically takes about 30-45 days, similar to a real estate transaction.