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=i ' _ 1, Board of Directors 2006-07 Lynne Carboy, Chair Michael Bednar - Nancy Burr Melba Campbell Earnly Chapman James Craig, M.D. Wendy Craig John Dodge Jeff Erkelens Thomas Estes, Ed.D. Jim Grigg Ken Hankins GabrielleHarris Neal Harris Rev. Dr. Dale Johnson David Kudravetz Jeanne McCusker Larry Pearson Philippe Podhorecki Kelly Seaman -" }tackhause 0iWhitworth ieWoods Reg Woods Advisory Board 2006-2007 Rev. Bruce Beard Russell Bowles Lucius H, Bracey, Jr. Johanna Chase Doug Cox, D.Cr' Jane Dittmar Pete Gillen Chuck Grossmann Bill Hamilton Cole Hendrix Ed Howell . Frances J. Lee-Vandell Chuck Lewis Alicia B. Lugo Jane Maddux Lawrence J. Martin Bruce Murray Deborah Murdock. George C. Palmer, III Vito A. Perriello, M.D. v wshall E. Pryor, III )1. Quayle Rotgin, Jr. ,11Wchaffit lill Whitney Habitat for Humanity® of Greater Charlottesville Mr. Tolbert and Ms. Kilroy, ea g simple, decent, affordable housing partnership with.low-income families, volunteers and the communities of greater Charlottesville. May 18, 2007 I am writing to request that the City invest $220,000 from the Housing Initiative Fund in ten homes to be built in the city by Habitat for Humanity of Greater Charlottesville. Recent Partnerships First, I would like to thank you for the city's support in recent years. In the past two years, the city has helped with 21 Habitat homes through HIF funds, HOME funds, CDBG finds and land donations. Fifteen of those homes have been sold to low-income families and six of those homes are under construction. Request We would like to request that the City invest $220,000 from the Housing Initiative Fund in ten Habitat homes in the city to be sold to families with household incomes between 25% and 60% of area median income. The City investment would be an average of $22,000 per house to be covered by deferred mortgages to the city and by appreciation sharing agreements. We would propose to use different amounts of HIF funds on different houses depending upon what other government funds might be in those houses. On some of these houses we might be fortunate enough to have some funds from other City sources such as CDBG fttnds. Our policy is to not use City funds for more than 1/3`d of the house value, so we might use larger amounts of the HIF fiends on houses that did not have other government funds and smaller amounts on those houses that did have other government funds. These ten homes will be at several locations in Fifeville and Belmont. If the city chooses to restrict this finding strictly to families from the city of Charlottesville, we would be comfortable with that. If the city does not place that restriction on the funds, up to two of the ten homes could be sold to families that are not from the city. P.O. Box 7305 Charlottesville, VA 22906 Phone (434) 293-9066 Fax (434) 293-0683 Inf0501®aillehabitat.org owvwmIlehabitatorg