MILL VALLEY – The City of Mill Valley has partnered with Placemate Inc. and the Mill Valley Community Housing Foundation to launch the “Lease to Locals” pilot program, an innovative initiative designed to increase the available stock of year-round housing for our local workforce.
The program offers property owners in Mill Valley who are not currently long-term renting their housing unit a grant payment of up to $14,000 in one-time cash incentives to convert their property into year-round rental housing for the local workforce. To qualify, property owners must begin renting their property to locally employed tenants for a minimum 12-month period. Funding is limited, so apply today to secure your spot!
“Mill Valley is deeply committed to affirmatively furthering fair housing and to enabling our workforce the opportunity to live here,’ said Mill Valley Mayor Stephen Burke. “This includes our ongoing work with Front Porch and its Home Match program, as well as Bayview Terrace, our proposed 45 unit affordable housing project, and now this pilot effort with Placemate. We are also grateful for the partnership and support provided by the Community Housing Foundation of Mill Valley.”
The Lease to Locals program is intended to unlock existing housing by providing homeowners a financial incentive to house the local workforce through a long-term rental. The program is launching as a pilot and will be evaluated after six months for longer-term funding opportunities. Placemate Inc., an organization with a proven track record in addressing workforce housing shortages in destination communities, will administer the “Lease to Locals” program.
Program Details:
- Eligibility: Properties must be located in Mill Valley City Limits. Units cannot have had full-time tenants for more than a year and existing tenants must not currently be on a 12-month lease.
- Incentives: “Lease to Locals” incentives range from $3,500 to $14,000, based on the rental type (room rental in a shared home vs. private home rental) and number of qualified tenants.
- Rent Maximum: Participating properties must not exceed the maximum monthly rental rate of $1,500/month for a room in a shared home and $4,500/month for a full private home rental.
- Tenant Requirements: To receive an incentive, owners must rent their property for a minimum 12-month period to a tenant group with an average income of no more than 120% of the area median income; at least half of the adults in the household must be qualified tenants. A qualified tenant is defined as an individual who works at least 20 hours per week for an employer located or serving clients in the 94941 zip code. Children of adults in a qualified household are counted cumulatively as 1 additional qualifying tenant. Qualified households must not have any renters who are blood relatives of the property owner.
For More Information
Mill Valley tenants and property owners can learn more and get started by visiting http://www.placemate.com/Mill-Valley, calling Placemate at (415) 769-3200, or emailing hello@placemate.com.
About Placemate
Placemate has deep experience and operational capacity to help solve the workforce housing crisis in destination towns by unlocking new housing opportunities for local employees. They have operated housing programs across the country in resort communities in California, Idaho, Nevada, Vermont, Colorado, and Massachusetts. Through their trusted online platform, they connect local tenants with homeowners who have underutilized properties available for rent. To bolster this effort, they partner with local governments and nonprofits to incentivize property owners who convert and preserve their units into seasonal and long-term rentals for locals.
Contact: Danielle Staude, dstaude@cityofmillvalley.gov
