Cohousing-L Mailing List: Re: Affordable Home for Sale Mosaic Commons Berlin, MA

[Muriel Kranowski (murielk]

Liz, I'm curious to know how many 40B units you have, out of how many total
units, and how or whether having that set of lower-income residents skews
your overall planning and budget decisions.

My community initially had 4 units (out of 33) reserved for lower-income
first-time homeowners. That program benefited those specific members and
didn't get passed on to their buyers when they sold their units. Early on,
when 3 or 4 of them were still here, we were very aware of the possible
impact on them of higher HOA dues and it influenced how we did, and still
do, our budgeting.
    Muriel @ Shadowlake Village

On Thu, Feb 15, 2024 at 2:16 PM Elizabeth Magill <pastorlizm [at] gmail.com>
wrote:

> Mosaic Commons Cohousing has a small 3BR affordable home (through 40B) in
> Mosaic Commons Cohousing that will be auctioned at 10 am March 26, at 9
> Village Lane. It's pretty short notice.
>
> Massachusetts 40B program is for households making about 80% of the area
> average income. (You can find 2023 income limits here
> https://www.mhp.net/assets/resources/documents/one__income_limits.pdf
> Berlin, MA is in Worcester County on page 5.)
> There are also asset limits.
>
> We expect you should know you will qualify for a mortgage before bidding,
> and there is a $7500 deposit to bid. We are researching how to show you are
> 40B eligible--or whether you need to show it before the auction.
>
> If you may qualify, we think it would be worth bidding on the home. We'd
> like to have a cohouser here.
>
> If this sounds worth your time, let us know your interest and we can share
> what we know about how to get help with the process. We also can show you a
> similar home if you would like.
>
> https://mosaic-commons.org/node/203
>
> Note that it is always possible that the auction will be stopped or
> delayed.
>
> -Liz
> (The Rev. Dr.) Elizabeth Mae Magill
> Pastor, Ashburnham Community Church
> Minister to the Affiliates, Ecclesia Ministries
> www.elizabethmaemagill.com
> 508-450-0431
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