Resale & Refinancing

Per the Affordable Housing Covenant, the resale price of affordable housing units is calculated by the Office of Economic Development (OED). Current affordable owners who are seeking to sell or refinance their affordable unit must complete a Maximum Resale Price request form. OED has up to ten business days to process requests. Please be aware that the maximum resale price is not a guarantee. It merely provides the upper limit that the property can sell for according to the Affordable Housing Covenant.

Covenant Restrictions

All affordable housing units have Covenants which detail the price restrictions, income restrictions and control period. A copy of the Covenant can be obtained from the developer, the seller, or the OED. Please read the project Covenant closely prior to purchase. Each homebuyer will be required to sign a Memorandum of Acceptance signifying that they understand and agree to abide by the terms and conditions of the Covenant.