Orange County NC Website
Browse       Search
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 15 years <br />to know for certain that the Home Trust will be in a position to execute the Right of First Refusal. <br />Tara, I continue to believe The Landings at Winmore represents a great opportunity for families below <br />60% of median income to live in affordable, well- maintained housing. The fact that The Landings is <br />located within a newly - 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 HOM E funds or our role in this <br />development. Thank you for your assistance. <br />Sincerely, <br />Robert Dowling <br />Executive Director <br />P.O. Box 307, Carrboro, NC 27510 1 919- 967 -1545 <br />