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3 <br />Erg <br />Btw~o op o11a~cTORs <br />V;rimt S. Fottshee, prrsidnnt <br />Na+hredr Cantrr~aly.9sowalioK <br />titepoey Ldwatds. Vicx i',r:u;dc~c <br />Miaeap BardaSlt~ <br />MnHluw Fnauigto~ Set:cetary <br />c~sn~ NSA. <br />]arn: Stedn, T~-k <br />C.Irur. C:atraar Seams Fe~tdekar: <br />SA M 13~m,k~ <br />RF:.1i,'Tl7N <br />,, a~ <br />Cmr Lays Nr~bdwdieuf flrnda/iore <br />Alvaler Aumelle <br />i 1s~d.3'bref Nd~hberbdsd/Lrreai~tq'ara <br />Rrv. xotiatc C:ampbdl <br />~ Rgpf Ne{eh6wfnad ,4tiardliota <br />Miion MmirikwC <br />Lle~ Smxr Ney~w/wvd A~liw <br />Nob;n Nutlcat <br />Narenek Caru~ra~y.4uaYda~r <br />~~ <br />My~ ~~ <br />um<r~ <br />Maxtxinr Mitchell <br />f.si.ir.nriry Ilrw/gpnwat Sptrmditr <br />~1~eay l:ariet <br />J+,g~ar nlauggr <br />fplpll <br />7US-A~/eat ltoecmary street <br />C:ucbor0. NL: 2751U <br />Phone: (91'1) 967-67'79 <br />I~px: (91'>) 967-U'71U <br />empowrr[nentinc®mindtprin~eote <br />mint <br />INC. <br />Reclaiming the POWER of our Communities <br />Apri104, 2000 <br />Ms. Tara Fikes <br />17irector of Housing and. Community Deveiopmept <br />Qrangc County <br />PO $181 <br />Hillsborough, NC 27298 <br />Dear Tara: <br />I am writing to request an amendment ro our contract for Aond funding for the Pinc Hill <br />Drive project. In our original application for bond funds we stated that units would be <br />priced at a level affordable to families earning between 52-58% of area median incom~c. It <br />was not our intention to enter into an agreement with the County that we would only sell <br />units to families within this income range- We had been operating under the assumption <br />that County housing programs were available to families earning less than 70% of arra <br />[t1Cdlan 111COme. <br />The typical family in our program earns slightly mare than SO% of area median, but we <br />have served families up to the 70°Yo level with County support. In fact, one of the first <br />families we spoke with about the Pine Hiil Urive project last May works at UNC and <br />earns slightly above 60% of area median. We do not want to prevent her from buying one <br />of these units. <br />As }roe know, our backs were against the wall when we finally closed on this property, <br />and the sellers were literally a day or two away from lolling the lot to Dickie Andrews. <br />Had we had monc time to work with the staff we would have identified and addressed this <br />issue, and the resale restrictions, prior W closing. We hope that we can amend our <br />contract to allow us to work with families earning up io 70ai6 of area median income. <br />I have enclosed our original bond application and the Purancial projections we submitted <br />last August_ i can certainly sec why you would have thought that we would only market <br />these units to families earning between 52-5$% of Alid], but our goal was simply to <br />highlight that the units would bt afTordable to families in that income bracket. Please let <br />me knave haw to proceed with this request. <br />