The Workforce Housing Program is an initiative designed to provide an opportunity for low to moderate income households to purchase affordable new construction housing units in New Castle County. This initiative does not use federal, state, or county funding to accomplish the goal of affordable housing for county residents.
There are deed restrictions and a buyer’s agreement that impose restrictions on the home in order to ensure continued affordability during the affordability term. Those restrictions and agreements include but are not limited to:
Authorizing annual monitoring for compliance
Defining default conditions and legal remedies to cure defaults
Limit future sale prices of the home during affordability period
Limit future sales to eligible qualified buyers during affordability period
Restrict refinancing of the home during affordability period
Restrict the use of the home to owner occupancy during affordability period