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2z <br />®j~l~ <br />~~ <br />Kimley-Horn <br />and AS50CI8teS, •InG, <br />Development Schedule <br />Robert Davis <br />February 3, 3D00 <br />Page 3 <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 />- ~ Homes <br />Year ~ - 2001 .~ jp Homes <br />Year - 2002 ,1~6 /;~ Homes <br />Year - 2003 /1 J 1 Homes <br />Year - 2004 ~ 11 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 Plan 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 ASSOCLAT'ES,1NC. <br />~c~~' ~ <br />Scott O. Radway, AICP <br />Senior Project Manager <br />50R/s <br />cc: Susan Levy, Habitat For Humanity Orange County, NC, Inc. <br />