Hcr-Fc Marlborough Woods

“The 990 is reviewed by the board of directors prior to filing.”

“Documents are available upon request.”

“Hcr-fc marlborough woods, llc acquires rental units in the marlborough woods neighborhood with the purpose of providing opportunities for tenants to become homeowners. It is anticipated over a 10 year period that current tenants will turnover and that new homebuyers will be identified for the units. While tenants are renting, freedom communities provides tenant management and support for families. Each tenant has the opportunity to meet with a case worker to determine the needs of the family and connect them with the community resources that will serve them best. Habitat charlotte region provides opportunities for residents to participate in its various financial literacy programs to assess home buyer readiness and upon completion, will determine if they are prepared to purchase one of the marlborough woods units or another housing solution elsewhere. As tenants move out, habitat charlotte region rehabs the units including remodeling the kitchen and bath, replacing windows, cleaning floors, and painting the unit. Homebuyers will be identified through habitat charlotte region and will have an ami of 30-80%. Sales prices will be set by the market and habitat charlotte region will secure an affordable mortgage for the homebuyer to ensure that housing costs will not exceed 30% of the homebuyer's household income. Mortgages are not expected to exceed 360 months. Mortgage holders will receive ongoing communications from habitat charlotte region, invitations to workshops, community meetings, etc. To position them to thrive as homeowners.”