-- The Placer CountyBoard of Supervisors, sitting as the Placer County Redevelopment Agency Board, will hear a report on an affordable home ownership opportunity and lottery selection process at its regularly scheduled meeting on Tues., Sept., 12, 2006.
The Placer County Redevelopment Agency has begun the process for a lottery for the right to purchase 15 new homes in Auburnat a below-market price. The Agency is contacting households from its potential homebuyer contact list and will be advertising the availability of the affordable homes to the public at large.
Morrison Homes is building the proposed housing development known as Atwood Ranch III, which will consist of 143 single-family homes located near Atwood Roadand Richardson Drivein Auburn. This development will include 15 single-family, below-market price homes. The 1,200-square-foot, three-bedroom, two-bath single-family detached homes will sell for about $180,000.
"This is an excellent opportunity to make homeownership available to lower-income households in PlacerCounty," said Jim Holmes, District 3 Supervisor, PlacerCounty. "In 2004, the Board of Supervisors approved this development with the requirement that it include affordable housing and now we're seeing this foresight come to fruition. It will also help enrollment in our local schools."
To qualify for one of the homes, a household needs to be between three and seven persons and fall within certain income ranges. For example, a four-person household's annual income cannot exceed $52,300, or 80 percent of the 2006 area median income of $65,400. A homebuyer must provide a minimum 3 percent down payment of approximately $5,400, plus closing costs. These homes will be deed-restricted for 20 years, thus making affordable housing available even after resale.
The Redevelopment Agency, together with Morrison Homes will hold two information workshops on
- Wednesday, Sept. 27, 2006 from 7:00 pm to 9:00 pm, and
- Thursday, Oct. 12, 2006, from 7:00 pm to 9:00 pm.
Both workshops will be held in the old Planning Commission Chambers, 2900 Richardson Drive, in the PlacerCountyGovernmentCenterin Auburn. The information workshops will cover home ownership responsibilities, income requirements and the procedures for the selection lottery process. Space is limited to the first 50 participants per workshop. While the workshops are not mandatory, attendance is strongly recommended. To make a reservation for either workshop, obtain additional information about the lottery process or receive a pre-application, i nterested parties should call Cathy Donovan at (530) 745-3150.
The deadline for submitting a pre-application to the Redevelopment Agency is Oct. 27, 2006. The lottery is expected to be held by the end of the year. Pre-applications may only be submitted by mail and should be sent to:
Additional information and relevant documents will also be posted on the Redevelopment Agency's website, www.placer.ca.gov/CEO/Redevelopment.aspx .