PBC Aid to Homebuyers

Read the article in The Palm Beach Post.


PBC may offer down-payment aid to homebuyers

Assistance would be based on income and cost of house.

By Wayne Washington Palm Beach Post Staff Writer

Palm Beach County Administrator Verdenia Baker

Palm Beach County Administrator Verdenia Baker has often noted the scarcity of affordable housing in the county. LANNIS WATERS / THE PALM BEACH POST

Low-income residents in Palm Beach County could get as much as $38,500 in down-payment assistance through a new program the county is working on.

The county’s workforce housing program has required developers to set aside units that would be available at below-market prices. Developers can — and usually do — pay a fee in lieu of building that housing.

The county has collected $3 million in fees that it now wants to use to help low- to middle-income residents buy some of the below-market housing units that have been built.

Commissioners have not given their final approval to the down-payment assistance program, though several spoke in favor of it when they met Tuesday. They are expected to vote on it when they meet in April   Read more…