Property Information

# of Units: 52
Type: 1-, 2-, and 3-bedroom townhomes
Occupancy: Owner Occupied
AMI Target: 80%-120% AMI
Neighborhood Amenities: Rec path; proximity to parks, trails, public transit
Construction Complete: November 2018

Restrictive Covenant Highlights

Employment: 30+ hours per week in Summit County
Income Limits: 110% – no limit
Assets: Cannot exceed $225,000; exempt assets include primary residence equity, retirement accounts, health savings and college savings accounts
Property: Not allowed to own other property in Summit County
Appreciation Limit: 2% fixed per year
Commission: 0.5%-1% of sale price
Capital Improvements: 10% of initial purchase price upon approval
Retirement: Partial retirement at age 60; full retirement at age 65
Rent: No short term rental allowed; owners can rent rooms to qualified tenants upon approval

Restrictive Covenants

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