A nine member board appointed by the Town Board to five year terms.
Members of The Board:The Yorktown Town Board established the Community Housing Program in 1988, resulting in the creation of what are referred to as "Affordable Housing Units". These units are contained in developments constructed by private developers. Under an agreement between the developers and the Town, the designated "Affordable Housing Units" are sold at lower prices to enable qualifying households to purchase the units. Since the program relies on private market forces, it is not certain which sized units (studio to five-bedroom units) or if any units will be available during any given year.
Applicants are offered the opportunity to purchase units and are responsible for obtaining their own financing. All our units are produced with near zero government dollars or cost to the taxpayers. Yorktown's Community Housing Trust Fund has received approximately $400,000 to date. The funds have been used to purchase homes for resale to program applicants; "buy down" purchase prices; support preliminary fees and expenses in the acquisition, development and construction of a rental project by a nonprofit organization and supported planning fees and costs associated with a town/county planning study for a 400 acre site.
The Town Board established criteria for households which are eligible to apply for units under the Community Housing Program. To be eligible for the program, the total 1995 household income must not exceed $52,992.00 and the household's Net Assets must not exceed $49,500.00. Using these income criteria, pre-applicants are then ranked by the date and time the pre-application is received and then ranked into a priority point system.
Since the housing made available under this program is priced lower than would otherwise be available, there are certain restrictions. Households who purchase an affordable unit may continue to live in that unit as long as they wish without regard to future changes in their household or income. However, there are certain restrictions on leases and transfers of ownership and resale prices.