Affordable Housing
The City of Salinas has been supporting the development of affordable housing for more than five decades. The City has sought and secured both federal and State housing funds, issued mortgage revenue bonds, established redevelopment districts & allocated tax increment funds, and assisted developers to obtain private financing. Assisted projects include: a short-term residential crisis facility; senior housing; self-help owner-occupied farmworker housing; mixed-income projects; single family subdivisions; housing for the disabled; large unit family rental housing; single room occupancy complexes; and an innovative infill project designed to encourage the provision of smaller daycare facilities. The City will continue to support affordable housing as a priority; however, the scale of future success will be contingent upon available financial resources from Federal, State and other programs.
Please click to view our Affordable Housing List(PDF, 230KB)
Inclusionary Home Program
What are the income requirements for someone who wants to purchase an inclusionary home?
Income Eligibility – An inclusionary property will be sold to a household earning 80% or less than the Area Median Income. Use the following table to determine if a household meets the income limits.
2023 MAXIMUM INCOME LIMITS PER HOUSEHOLD SIZE
|
HH Size
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
|
Income
|
$67,450
|
$77,100
|
$86,750
|
$96,350
|
$104,100
|
$111,800
|
$119,500
|
$127,200
|
(Incomes for household members over the age of 18 who will live in the home must be considered)
Are applicants required to live or work in the City of Salinas?
Proof of residency or employment is required. Applicants must have at least 1 year of living or working within city limits.
What documents are required to apply?
Applicants must submit:
- Re-Sale Inclusionary Application
- Three (3) most recent years signed federal tax returns
- Two (2) most recent years W2 statements
- Two (2) months most recent paystubs
- Two (2) months most recent bank statements (checking, savings)
- Most recent 401k, or Retirement Account statement
- Other sources of income (Social Security, Disability, Unemployment, Child Support, etc.)
Applicant's lender must submit:
- Pre-Qualification Letter (lender to specify if there is down payment assistance and/or closing costs credits)
- Mortgage Form 1003
- Mortgage Form 1008
- Loan Estimate (LE)
- Authorization to Release Information Form
- Verification of Employment (VOE) for Applicant(s)
- Gift Letter (if applicable)
Please click to view the Re-Sale Inclusionary Application English.pdf(PDF, 297KB)
Please click to view the Re-Sale Inclusionary Application Spanish.pdf(PDF, 303KB)
How will applicants submit their documentation?
The seller's agent is responsible for receiving and reviewing the offers. The seller's agent will forward the selected offers to the City of Salinas for review. The City will contact the applicant and/or their lender to collect the required documentation. Please have all documentation ready once the City contacts you. The City will review, verify, and approve the required documentation to ensure the prospective buyer/s are deemed eligible.
Please click link to view the Inclusionary-Pre-Screening-Form.pdf(PDF, 106KB)
Are there restrictions on the home?
Please review the Resale Deed Restriction Agreement (enclosed in the application) for additional information regarding the restrictions on an inclusionary home. The real estate purchase contract must acknowledge and incorporate the Resale Deed Restriction Agreement and its requirements. The new buyer/s are required to initial and sign the Resale Deed Restriction Agreement.
Questions
Please contact the Housing & Community Development division for additional information.