HOME_Resale_Provision.pdf

This is a HOME Resale Provision document related to the Tiny Home Village Development project in Orange City, Florida. The document outlines the terms and conditions governing the resale of homes developed under the HOME Investment Partnerships Program, which provides federal funding for affordable housing initiatives. The provision establishes requirements for developers and homeowners participating in the tiny home village project, which targets veterans, seniors, and workforce housing populations seeking affordable homeownership opportunities. The document specifies compliance obligations, affordability period requirements, and restrictions on property transfers to ensure that homes remain affordable and accessible to eligible populations throughout the designated affordability period.

The resale provision includes specific pricing controls and mechanisms to maintain affordability for subsequent purchasers, preventing speculative resale at market-rate prices. The document likely contains requirements regarding deed restrictions, price restrictions, and other safeguards funded through the HOME program, a federal initiative administered by the Department of Housing and Urban Development (HUD). These provisions ensure that the investment of public funds results in long-term affordable housing benefits and restricts resale to qualified buyers within income limits established by the program. The resale requirements apply throughout the affordability period specified in the HOME program guidelines and serve to protect the public's investment while sustaining housing accessibility for target populations.