Sail Lofts

Property Information

# of Units: 10 units
Occupancy: Owner occupied
Unit Type: Condo
AMI Target: 90%-130% AMI
Completed: Building 17 summer 2019; Building 16 under construction

Restrictive Covenant Highlights

Employment: 30 hours per week on annual basis in Summit County
Income Limits: 90% – 130% (20% additional income allowance for qualified occupants)
Appreciation Limit: Fixed 2% per year
Commission: 1.75% of the resale price
Capital Improvements: 3% of the purchase price can be added over a period of 10 years upon approval
Retirement: A person over 65 years of age shall remain a qualified occupant regardless of his or her working status, so long as he or she has occupied the restricted unit for not less than 7 years
Rental: Units may be rented to an approved tenant, and may not be short term rented

Restrictive Covenants

Please note that the information provided on this page is for convenience only and is not a substitute for a full recorded document search and review. To obtain the recorded documents, please contact the Summit County Clerk & Recorder’s office.