Why Leavenworth needs Affordable Homes Employees and their families whether school teachers, retail workers, or hospital workers can’t find affordable homes Our community is losing families and population Another ten years of decline of affordable homes may permanently change our community Will our School District be sustainable? At what level? To remain healthy our community, our economy, our businesses need employees and their families living here.
Funding Sources Planning and Engineering SourcesPrivate Property Partners (3) $135,000Chelan County $75,000City of Leavenworth $50,000Private Donors $50,000Habitat Gift $100,000Interim Bank Financing $250,000TOTAL PRE- $660,000DEVELOPMENT COSTESTIMATE
Percentage by Source Private Property Partners (3) Chelan County Private Property Partners (3) 20%Interim Bank Financing City of Leavenworth 38% Chelan County 11% Private Donors City of Leavenworth 8% Undisclosed Tentative Habitat Gift Private Source Habitat Gift Donors 15% 8% Interim Bank Financing
2011 Meadowlark GoalsYear Date Goal 10/14/2011 1. Financial feasibility and business plan 2. Planned Development Chelan County permit 10/14/2011 application submitted 10/15/2011 3. CVB bridge loan for $250,000 4. SHOP funding underwriting commitment2011 5. City municipal bond commitment 10/15/2011 6. Launch funding plan and requests for est. $3,000,000 socially responsible investment fund to carry development through completion 12/15/2011 7. Final County Planned development permit
2012 and 2013 Meadowlark GoalsYear Date Goal 8. Begin soliciting & screening new March to June 2012 homeowners 9. Final selection of homeowners for June to August 2012 waiting list and homes 3/1/2012 10. ORFH/Housing Authority commit2012 11. Securing lenders for permanent May 2012 mortgages for CLT homeowner loans February to April 2012 12. Final utility design and bid April to September 2012 13. Utility Construction2013 September 2012 to March 2013 14. Home construction begins