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7 <br />Housing Finance Agency requires The landings to remain affordable for 30 years. I believe the 30-year <br />required affordability period, plus the Right of First Refusal meets the spirit of the County's desire for <br />99-year affordability. Obviously, we are unable to predict what market conditions will be like in 1S years <br />to know for certain that the Home Trust will be in a position to execute the Right of First Refusal. <br />Tara, 1 continue to believe The Landings at Winmore represents a great opportunity for families below <br />609 of median income to live in affordable, well-maintained housing. The fact that The Landings is <br />located within anewly-developed, market rate neighborhood is also advantageous because it furthers <br />the inclusivity we strive for in Orange County. <br />In the spirit of full disclosure, Community Home Trust has signed a Homebuyer Counseling contract with <br />the developer which requires that we arrange to provide quarterly credit counseling and homebuyer <br />education counseling to the tenants of the landings. The developer has agreed to compensate <br />Community Home Trust for services provided with a $10,000 fee at closing and $2,000 per quarter. <br />Please let me know if you have additional questions about the HOME funds or our role in this <br />development. Thank you for your assistance. <br />Sincerely, <br />1J1 ~C%`~C~ ~ ~~ <br />.~ <br />Robert Dowling <br />Executive Director <br />P.O. Box 307, Cnrrboro, NC 2510 ~ 9i9-967-1545 ~ ~'.i'~"n ~ 1_ail_)~111~j; ?,~;~~r~~~ <br />