Deed restrictions help to ensure that homes will be available to the local workforce at affordable prices. Deed restrictions are land use covenants. Ownership deed restrictions restrict the way in which an owner can resell the home (and to whom, based on income and long-term occupancy) while the resale value of the home is based on an indexed formula intended to keep the purchase price aligned with local incomes.
There are approximately XX deed restricted units are in Mammoth Lakes. The Town and Mammoth Lakes Housing, Inc. (MLH) monitor these deed restricted units to ensure the terms of the deed restrictions are adhered to. MLH monitors approximately XX deed restrictions, and the Town monitors approximately XX deed restrictions. [Note - numbers coming soon]