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Workforce Housing Opportunities Through Island Housing Trust
April 2012
1. NEW Lots at Ripples Hill Subdivision, Somesville
Six lots in Phase 1 have been sold and three more have been created in the next phase of Ripples Hill Development. Site work for the three new lots was substantially completed in December 2011. For additional information, contact Gretchen W. O'Grady at IHT, 207-288-4496.
2. Home Ownership Assistance Program
See the News and Events page for more info. This program allows the qualified applicant to identify the residential property he/she wishes to purchase and then apply to IHT for gap financing. The guidelines are also found on the News and Events page. The pilot project under this program was completed January 6, 2012. IHT provided gap financing for the purchase of a residential property in Southwest Harbor. In return, the new owner accepted IHT affordability covenants to help keep the property affordable to other working families in the future.
3. 1272 Main Street, Somesville
This brand new, two-story Dutch Colonial on 2.4-acre lot was sold on November 1, 2011. The property was purchased by a College of the Atlantic faculty member and her partner. IHT holds the affordability covenants on the property that will keep it affordable to working individuals and families on MDI.
4. Sabah Woods, Bar Harbor UNDER CONTRACT 4-15-2012
A third modular house was recently set on a lot at 17 Sabah Woods Road. IHT will hold the affordability covenants on this properties. Below is a photo and the floor plan for the modular home that was built on a 1.5-acre lot at Sabah Woods. The owner is offering the house for sale at $220,000. It is available to a qualified working individual or family. Contact IHT for more info on how to qualify.
Keep checking back for information on more opportunities or contact IHT at 288-4496 or email director@islandhousingtrust.org.
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