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intends to sell, 30 of the houses built in the subdivision to, and on <br />terms affordable to, Low- income Persons (hereinafter defined); <br />WHEREAS, the Town, desiring to exercise, among other powers, its <br />power and authority to engage in housing programs for Low- income <br />Persons, has an interest in selling, and an intent to sell, the <br />Low - income Houses (hereinafter defined) to Low- income Persons, save <br />and except the first sales of the Low- income Houses, for which the <br />Corporation shall be responsible; <br />WHEREAS, both the Corporation and the Town have an interest in <br />and an intent to keep the Low- income Houses affordable to future <br />buyers who are Low- income Persons; <br />WHEREAS, both the Corporation and the Town have an interest in <br />making, and an intent to make, the Low- income Houses increasingly more <br />affordable to future buyers, such that, at resales of Low- income <br />Houses, the Low- income Houses may become affordable to Very Low- income <br />Persons (hereinafter defined); <br />WHEREAS, a means by..which the Corporation intends to sell the <br />Low - income Houses on terms affordable to Low- income Persons is to <br />reduce the Low- income Houses' sale prices below their fair market <br />values (so as to effectively negate the Corporation's potential profit <br />from the subdivision), arrange for loans to the first buyers of the <br />Low- income Houses for a significant portion of the cost of the <br />Low- income Houses and on terms affordable to Low- income Persons, and <br />arrange for some of such buyers a mortgage credit certificate; <br />WHEREAS, the Town, similarly to the Corporation, intends to <br />finance $14,000.00 of the purchase price of 17 Low- income Houses by <br />Low- income Persons, the source of said financing initially to be from <br />MWAM <br />