Orange County NC Website
Browse       Search
22 <br />®~ Kimley-Morn Robert Davis <br />~' and Associates, Inc. February 3, ?000 <br />Page 3 <br />Develo ment Schedule <br />Habitat for Humanity hopes to begin construction on the first phase of this subdi- <br />vision during the summer of this year, 2000. It is anticipated that development <br />would take place over a five year period with the number of homes per year as <br />shown below. <br />~rQ' - „~ Homes <br />Year ~ - 2001 .,S ja Homes <br />Year - 2002 ,1+~ /;~ Homes <br />Year - 2003 /l~ ( Homes <br />Year - 2004 r8'il Homes <br />Total 43 Homes <br />Value of Homes <br />Because of the construction process and mortgage structure of Habitat For Hu- <br />manity homes, the purchase price of these homes is less than the fair market ap- <br />praised value used for assessment and taxation purposes. <br />Based on comparable homes that Habitat for Humanity has recently completed in <br />Orange County, the average assessed value of these homes is expected to be <br />about $ 110,000. <br />Home Owners •Association Documents <br />These documents are being submitted separately by the attorney for Habitat For <br />Humanity. <br />We look forward to your review of this Preliminary Flan application. If you have <br />questions about any aspect of the information or we have not addressed all the <br />issues please call. <br />Very truly yours, <br />KIMLEY-HORN AND ASSOCIATES, INC. <br />~G~`~j ~~ <br />Scott O. Radway, AICP <br />Senior Project Nldnager <br />SOR/s <br />cc: Susan Levy, Habitat For Humanity Orange County, NC, Inc. <br />