Homestead Program

The program focus is on employed, entry-level professionals or recent hires in search of quality housing in Clearlake. The program intends to offset higher than normal construction costs by eliminating additional fees and land costs in order to facilitate new housing development for moderate income professionals and encourage job creation and retention efforts.

Requirements

• Must be owner occupied for a minimum of two years from date of occupancy.

• Must have an existing job within Lake County or a verified employment offer. Local employment status can be met by verified telecommuting while living in Lake County at least 51% of the year.

• Income level must be classified as median to moderate income level, as defined each year by HCD (ranging from $49,000 for a one-person household to $84,850 for a four-person household.) This is structured in order to ensure applicants financial ability to obtain financing, complete the project and perform long-term property maintenance.

• Have ability to obtain commercial financing for construction of a new stick built home or manufactured home.

• Complete construction of a new stick built home or new manufactured home within 12 months of the issuance of a building permit.

• Must enter into an agreement with the City of Clearlake to meet the program requirements in exchange for various subsidies. If program requirements are not met, the property will revert to the City or a lien will be placed on the property to recover the amount subsidized.

• Program participants must meet all local and state codes.

• Applications will be submitted to the City and reviewed and approved by the City Loan Committee, with the City Manager authorized to execute program documents.

Program participant will receive an existing City-owned lot which has been placed on the approved Homestead Program property list, or City funded purchase of an alternative property not to exceed $10,000. Participants will also receive funds to pay the following fees:

• Building Permit and Plan Check fees (up to 1,800 sq. ft./approx. $3,300)

• Development Impact Fees ($2,049)

• Lake County Special Districts Sewer Connection/capacity expansion fees (one connection/standard meter size/varies but approx. $11,485.) An equivalent amount may be provided to cover the costs of installing a septic system if municipal sewer is not available.

• Local Water District Connection/capacity expansion fees (one connection/standard meter size/varies but approx. $7,500.) An equivalent amount may be provided to cover the costs of installing a well if municipal water is not available.

• Local School District Fees (up to 1,800 sq. ft/approx. $6,822)

• Local Fire District Fees (up to 1,800 sq. ft/approx. $2,000)

• All fees will be paid directly by the City to each local agency after program application and building permits are approved.

• Priority review and approval of building plans by other local agencies.

• Requested priority financing packages from local banks.

• List of available licensed contractors.


Application coming soon.