Fraser is hoping to secure its first two deed restrictions on single-family homes in town by early 2022.

Fraser Town Manager Ed Cannon said the town is negotiating deed restrictions for two houses, offering up to $40,000 for each agreement.

The goal of the deed restriction program is to increase supply of workforce housing. The program doesn’t limit what a property can sell for, but requires at least one person who works 30 hours or more per week in Grand County to use the property as a primary residence.

“We’re excited about this,” Cannon said. “We’re hoping it will open up other opportunities for people to convert existing homes or if we have affordable housing being developed, we could work with the developer to deed restrict those properties to meet the workforce shortage.”

Additionally, the town would have the first right to buy the properties anytime they hit the market. The deed restrictions stay with the properties into perpetuity.

Fraser’s deed restriction program has been in place since 2020 and earlier this year had a homeowner interested in participating, though the deal ultimately fell through.

Cannon said he believes the town trustees will vote on the final agreements in February or March.

Property owners interested in the program can find out more on the town’s website at http://www.frasercolorado.com/330/Housing.