Canal Crossing

Lottery Process
Due to the nature of the affordable homes availability it is important for everyone to understand the procedure. Please understand the allowable income guidelines are adjusted based upon your household size. Also be advised that the program and its requirements are subject to changes in local, state or federal regulations.

PLEASE NOTE: Complete Financial documentation and a mortgage pre-approval are required to participate in this lottery. Your application will be considered incomplete and you will not be in the lottery without this information.

Lottery Pools
Four units are available by lottery at Canal Crossing. The lottery has three pools – Local, Handicapped and At-Large. The separation below provides the overall unit breakdown of the units only. The pools breakdown as follows:

Local applicants would have two opportunities to purchase a unit by being in both the Local and At-Large Pools. Only eligible handicapped applicants shall be included in the lottery involving the affordable handicapped accessible units. If there are not eligible handicapped applicants, then the pool for the affordable handicapped accessible unit shall consist of all eligible applicants.

Preference for the two bedroom unit will be given to a household who require two bedrooms. Preference for the three bedroom units will be for households that require three bedrooms. Unit preferences are based on the following:

a. There is a least one occupant and no more than two occupants per bedroom.

b. A husband and wife, or those in a similar living arrangement, shall be required to share a bedroom. Other household members may share but shall not be required to share a bedroom.

c. A person described in (b) shall not be required to share a bedroom if a consequence of sharing would be a severe adverse impact on his or her mental or physical health and reliable medical documentation is provided substantiating the adverse impact.

All of the applicants for a given pool will be pulled at the time of the lottery. This will establish the rankings for the distribution of units. For example, if there are 20 local applicants for the General Lottery, the first 2, which meet the preference and eligibility guidelines, would have an opportunity to purchase a unit, and the remaining 18 applicants would establish the waiting list if any of the initial “winners” drop out.

Time Frames
Canal Crossing is under construction and it is anticipated that the first units will be ready late 2007 and the last units occupied in early 2008.

If you are selected and have the opportunity to purchase a unit you will speak or meet with a representative to review your application to verify all information. Applicants selected for units approaching completion will need to start working with a bank experienced with first time homebuyer programs immediately to secure the necessary mortgage.

Acceptance of Town Home
It is important for all applicants to understand that specific units are attached to specific lottery rankings based upon the projected availability of the completed unit. Applicants will not have a choice of unit locations, style or schedules. You will not be able “pass” on a unit and wait for another unit. If you choose not to take the designated unit, you will go to the bottom of the list and will likely NOT have another opportunity.

Summary
We hope this helps explain the process by which the units will be distributed. It can be a lengthy and sometimes complicated process. We greatly appreciate your participation and wish you the best of luck in the lottery process.