From Sunday, November 10 through Friday, November 15, 2024, two condo housing units in Frisco, purchased by the Town of Frisco using the Housing Helps program, will be listed for sale for residents working within one mile of the Ten Mile Basin. There are no income requirements or appreciation caps in the deed restrictions for these two units. Frisco’s Housing Helps program includes an option for the Town of Frisco to buy a market value home, place a deed restriction on that home, and make it available for residents working in the area at a lower cost than the Town’s purchase price.

Property Details

700 Lakepoint Drive, Unit A11

• Sale price – $460,000
• 1 bedroom, 2 bathrooms
• 858 square feet
• One uncovered parking space
• HOA fees of $521 per month

416 Bayview Drive, Unit A

• Sale price – $600,000
• 3 bedrooms, 3 bathrooms
• 1,383 square feet
• One garage parking space
• HOA fees of $541 per month

Sale and Housing Lottery Details

These two units will be listed for sale from November 10-15, and a completed Summit County Housing Authority (SCHA) application is due by 11:59 pm on November 15 from all interested buyers.

The Town of Frisco is working in cooperation with the Summit Combined Housing Authority (SCHA) and Omni Real Estate to administer a housing lottery system to select potential buyers for these two units, to select qualified applicants who will then, based on selection order, have an opportunity to purchase the unit, for which they submitted an application.

Applicants working or living in in the Town of Frisco and who have done so continuously for at least five years prior to the date of application will receive a second entry in the lottery. This additional entry requires employment in the Town of Frisco for an average of 30 hours/week or current residency within the Town limits. Applicants meeting one or both criteria will receive a total of one additional entry in the lottery.

Both units have a work/live deed restriction, requiring that the units to be occupied by a person who at the time of purchase and at all times during ownership or occupancy of the property, works an average of at least 30 hours per week on an annual basis at a business operating within one mile of the Ten Mile Basin. The qualifying area basically includes Copper; Frisco, including the hospital, County Commons, and the middle school; areas of Dillon; and Farmer’s Corner, including the high school. A map showing this area is available under the Housing Helps section at HousingFrisco.com.

Housing Application Details

The Summit County Housing Authority application is due by 11:59 pm on November 15, 2024. Applicants should prepare in advance to fill out the application.

• Applicants are encouraged to investigate the SCHA downpayment assistance program.
• Begin preparing all required information needed to apply:
  • A Verification of employment form (filled out by your supervisor or HR representative) for all W-2 wage employment, including seasonal jobs. The VOEs are valid for 60 days from the time of signing, at which time a new form will need to be completed.
  • Two most recent paystubs for all current jobs, including any seasonal jobs
  • Two most recent years of Federal tax returns (personal and business returns, if applicable) including all forms/schedules filed with the IRS (for employment and income applications)
  • All W-2s for current employers and/or all W-2s that contributed to most recent Federal 1040 tax returns (for employment & income applications)
  • If self-employed or a contractor, information relative to your business and services/goods offered; application will guide you through required self-employment information
  • 1099 tax documents if you are contract worker, or if you had any unemployment income (for employment and income applications)
  • An unexpired first-time homebuyer class certificate or proof of registration in a homebuyer education class (first-time homebuyers only). Class registration information is available through SCHA.
  • Pre-qualification letter from a mortgage lender or documentation of source of funds; pre-approval letter is recommended, but SCHA will also accept a prequalification letter. If not using a lender, other documentation of the source of the purchasing funds will be required, and SCHA should be contacted for details.

Lottery Closes on November 9 for Two AMI Deed Restricted Units

The lottery for two other recently listed Town owned condo units in Frisco closes on November 9, 2024 at 11:59 pm. Both units are deed restricted with the qualifying household income not to exceed 100% of Summit County’s Area Median Income (AMI), and as an example, a 100% AMI restriction currently allows for a $85,300 income for a 1-person household. The deed restriction also requires the units to be occupied by a person who at the time of purchase of a unit and at all times during ownership or occupancy of the property, works an average of at least 30 hour per week on an annual basis at a business operating within one mile of the Ten Mile Basin. The qualifying area basically includes Copper; Frisco, including the hospital, County Commons, and the middle school; areas of Dillon; and Farmer’s Corner, including the high school. Buyers interested in either of these units may complete the Summit County Housing Authority (SCHA) application.

Property Details

99 Granite Street, Unit 210

• Sale price – $262,500
• Studio, 1 bathroom
• 379 square feet
• One uncovered parking space
• HOA fees of $419.00 per month

500 Bills Ranch Road, Unit C111

• Sale price – $288,000
• 1 bedroom, 1 bathroom
• 603 square feet
• One covered parking space
• HOA fees of $470 per month

Find Out More About Frisco’s Housing Helps Program

Find out more about the many options available in Frisco’s Housing Helps program at HousingFrisco.com.