West Hills

Property Information

Phase I

# of Units: 25 units
Occupancy: Owner occupied
Unit Type: Duplex & triplex
AMI Target:  80-110% AMI
Completed: September 2018

Phase II

# of Units: 41 units
Occupancy: Owner occupied
Unit Type: Duplex, triplex & condos
AMI Target:  70-110% AMI
Construction Complete: Fall 2019

Restrictive Covenant Highlights

Employment: 30+ hours per week on an annual average basis in Summit County
Income Limits: 90% – 130% AMI
Appreciation Limit: Fixed 2% per year
Commission: 1.75% of the resale price can be added to final resale price if seller is using a licensed realtor or attorney with proof of fees
Capital Improvements: 10% of the initial base sale price can be added over a period of 10 years upon approval
Retirement: Phase I – Must be age 65 and have lived in that unit for 5 years and worked in the county for 7 prior years; Phase II – Must be age 67 and have lived in that unit for 7 years and worked in the county for 15 prior years
Rent: No short term rental allowed; owners can rent rooms to qualified tenants upon approval

Restrictive Covenants

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