MONO COUNTY TAKES IT TO THE BRIDGE

If the town of Mammoth Lakes jumped off a bridge, would Mono County do it, too?

The answer is yes — at least when it comes to Bridge Programs.

In a move to address affordable housing challenges, on Tuesday Mono County Supervisors approved a pilot project modeled after the Town of Mammoth Lakes’ Bridge Program.

The initiative, presented by Tyrone Grandstrand, Mono County Housing Opportunities Manager, aims to use existing housing stock to improve homeownership in the county.

Here’s how the program works: the county buys existing market-rate homes, resells them to locals at a lower rate, and places them under a deed restriction. If a property is resold before the deed restriction expires, it must remain affordable at the same Area Median Income (AMI) level.

By approving a pilot version of the program, Mono County Supervisors agreed to enter into agreements of up to $500,000 in subsidies until a more comprehensive plan is developed.

The scope and parameters of the pilot program are still being finalized, and in the coming months, Grandstrand and his staff plan to organize potential contracts, conduct analysis, and explore opportunities to give the project clearer direction.

If all goes well, Grandstrand estimates six units could be converted into affordable homes for every million dollars invested, with subsidies expected to be around $150,000 per unit. 

The Mammoth Lakes Bridge Program targets households earning between 120% and 150% of AMI. The Town has converted twelve units since its inception in 2022. The average subsidy for those sales was $138,840.

“The Bridge Program in the Town of Mammoth Lakes has benefited many residents and serves as a great example of a program that could work wonders for the County,” wrote Mammoth Lakes Councilmember Amanda Rice in support of a county-wide Bridge Program.

Still, the program in Mammoth Lakes is too new to prove conclusive success. It has faced challenges, including high interest rates, spikes in homeowner association fees, limited insurance options, and lending restrictions.

A county program will face a different set of challenges compared to a municipal program.

For instance, infrastructure in the unincorporated county differs from that in Mammoth Lakes (there are fewer condos), potentially exacerbating issues related to hidden costs in home maintenance and emergency repairs.

The demographics of residents outside Mammoth Lakes are also different. The county program would need to target constituents with a lower AMI compared to the Mammoth Lakes program, as unincorporated county residents generally have lower incomes.

“We have over 32 million different ways we could approach this housing program,” Grandstrand said.

The county does not yet have a contract with Eastern Sierra Community Housing (ESCH), which plays a significant role in the town program.

“Securing a contract with ESCH would be crucial for advancing this project with minimal additional burden on County staff,” said Elin Ljung, a member of the Eastern Sierra Community Housing Ad Hoc Committee.

Without that contract, the burden on County staff could be substantial—already evident as Grandstrand mentioned he had been up until 2 a.m. assembling the presentation for the board.

Some supervisors expressed concerns that this new program might divert attention and funds from other housing initiatives, and said the dollars for the program must mainly be used for subsidies and not for additional staffing.

The Mono County Board of Supervisors will need to approve any purchases made through the program.