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Show VoL I, No. 3 bo o bis o n Spri sigwo D D i Schaffer Homes buiit this award-winning home at 9486 N. 3830 West, Cedar Hills. The home won the quality craftsman award at the recent 2000 Parade of Homes by the Ulan Valley Homebuilders Association. For a complete list of award winners, see page 7. Share the Future, Hamlet Homes work to provide low-income housing HEBER-Share the Future Fu-ture Community Land Trust, U.S. Department of Agriculture Agricul-ture Rural Development and Hamlet Homes are working together to provide housing for low-income residents of Wasatch County. Share the Future, a membership-based, non-profit organization or-ganization helps provide permanent, per-manent, affordable housing for low-income residents, staffer Jennifer Daniellasaid. Hamlet Homes builds af .v fordable housing in Muirfield, a new neighbor-" hood in Heber. "The community land trust provides a subsidy to fill the gap between the amount of a loan people can qualify for and the cost of the home," Daniella said. The Olene Walker Housing Trust Fund and the Federal Home Loan Bank of Seattle's Affordable Af-fordable Housing Program will fund the subsidy. "Tb re are a lot of pro Putting Buyers and Sellers Together grams out there, but some people still need help to buy a home," Daniella said. "It's exciting to help those folks make their dream of home ownership a realty," Share the Future will pur-chase pur-chase a townhome at Muirfield, Dave Irwin of Hamlet Homes said. At closing clos-ing the agency will then resell re-sell it to a qualified low-income buyer, but keep the land, thus reducing the cost. The buyer, in turn, leases the yr"mpS I1C lira I J X homes in I Kelvin -0r Grove, a new community of 135 homes by Hamlet Homes, have sold with construction of the first 1 0 starting Aug. 1 , sales manager Dave Irwin said. Construction on the next five will begin in October, he said. Two model homes should be finished in August for home shoppers to visit. Their opening will mark the first time the successful Salt Lake City homebuilding group has ventured into Utah County. Hamlet also has a land from the agency under a 99-year renewable lease. USDA Rural Development Develop-ment is participating with Share the Future by providing provid-ing financing for the purchase of homes in Wasatch County. Buyers must meet income qualifications by earning less than 80 percent of the area median income, or between $24,000 and $32,000 a year, she said. The mortgage payment pay-ment is based on 30 percent of the household income. community underway in Lehi. The community will occupy oc-cupy approximately 36 acres at 1600 South 1500 West in Springville. The first phase will have 80 homes and a five-acre fully improved park that will be donated to the city. Two phases are planned. Full build-out of both phases is expected to take three years. The homes will range in size from 1 ,200 square feet to 2,000 square feet and will start at $1 16,900 for a two-bedroom, two-bedroom, one-bath home with a one-car garage. The largest homes will measure $135,900 with four Continued on Page 3 Buyers may also qualify for Payment Assistance. Depending De-pending on household income, in-come, that may lower the interest in-terest rate and in turn, drop the payments. When ahomebuyer eventually even-tually sells, he can take some of his equity, but must leave most of it behind to make the home affordable for the next owner, Daniella said. "This really helps the lower income people get their Continued on Page 2 |