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The Leelanau County Planning and Community Development Office has sold its first two Community Land Trust homes in Empire. The homes are located in the New Neighborhood development in the Village of Empire. Two more homes will be built during the summer of 2006 and be available in the fall.
The new homes are five star energy rated for low heating costs. Each home is 1342 Sq. ft of living space plus a full basement, three bedrooms/two baths, kitchen & dining area, plus an office or den area on the first floor, a first floor bedroom and full bath, and kitchen appliances. Each home has a large rear deck in back, and covered front porch. To preserve the affordability of the homes, the property will be held in trust with HomeStretch Community Land Trust.
To be eligible to buy a home, families must meet certain income criteria and be able to obtain their own financing with a mortgage from a bank or mortgage company. A minimum of 1% or $ 1,1000.00 of homebuyer cash is required. They must also be willing to participate in the Community Land Trust program (CLT- see link below for Homestretch Inc.)
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