Rooted Renters Program

At a glance

Based on auto-generated captions; names and details may be misheard.

What: new pilot program giving financial subsidies to property owners with existing year-round leases, to help support them with the rising costs of ownership.
Where it stands: the $540,000 pilot received over 150 applications for funding for about 30 homes. The administrator, Placemate (name as heard in captions), compared applicants against 100% area median income, selected the top 30 and is verifying leases and eligibility; replacements move up if anyone drops out.
Next: verification expected within a month or two; staff are discussing the timeline and funding for a new round. Board members asked to look at expanding it.

Rooted Renters supports existing year-round rentals, unlike Lease to Locals Program, which created new ones.
Dylan Metsch-Ampel presented in the Affordable Housing Trust quarterly update. Brooke Mohr said the program is easily expandable but staff wanted to finish the first 30 properties before adding more.
Using an outside administrator keeps residents' personal financial details away from town staff.
Board members said both rental programs give the most value per dollar; Matt Fee and others pointed to tax incentives and zoning as lower-cost tools, and the possible property tax exemption for year-round rentals.

Quarterly update: over 150 applications for about 30 funded homes on a $540,000 pilot; verification under way and a next round being considered.