Craftsman Village at Needham Heights

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.

Lottery Pools
Two 3 bedroom units are available by lottery at Craftsman Village @ Needham Heights. The lottery has two pools – Local and At‐Large. The units and pools breakdown as follows:

Local applicants would have two opportunities to purchase a unit by being in both the Local and At‐Large Pools.

Preference for the three bedroom units will be for households that require three bedrooms. Second preference is for households requiring two bedrooms and third preference to households requiring one bedroom.

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. This means if you are a two person household and by the above definition require a one bedroom unit and are drawn first in the lottery, we will move to the first applicant on the list that meet the unit preference for the three bedroom units. If we have gone through the list and have units remaining we will begin working from the top of the list and you may have an opportunity to purchase.

Time Frames
Construction for Craftsman Village @ Needham Heights is slated to begin winter 2010. Occupancy for the first affordable unit is estimated for late spring 2010.

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 will need to start working with their bank immediately to secure the necessary mortgage. Please be advised that the official income verification will be done at the time you have an opportunity to purchase a unit. Meaning, if one year after the initial lottery you have the opportunity to purchase a unit and you are over income at that time, you may not be able to purchase.

If you have an opportunity to purchase a 1.5% deposit ($2,948) will be required upon unit confirmation. This deposit is fully refundable if you do not purchase a unit and prior to the signing of the Purchase and Sale Agreement.

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.