North Haven Sustainable Housing’s Eligibility Requirements
North Haven Sustainable Housing’s mission is to serve low to middle income year-round residents, and to encourage more affordable and sustainable housing opportunities to preserve our year-round island community.
NHSH’s preferred applicants should earn 120% or less of the previous year’s median household income for Knox County. Because our community is facing an unprecedented lack of affordable housing opportunities on the open real estate market, and because the cost of living on an island is higher than the mainland, in some cases we may serve families over 120% of Knox County area median income. Income is based on the [U.S. Department of Housing and Urban Development’s median income calculations.]
The following are the criteria for eligibility to qualify as an applicant for a North Haven Sustainable Housing rental or ownership property:
1. Rentals: North Haven Sustainable Housing rental unit tenants should earn 120% or less of Knox County median income at the time of application. For 2016, 120% of median household income for Knox County equals $74,640 for a family of four. North Haven Sustainable Housing may also verify prospective tenants’ ability to pay, check references from past landlords, and prioritize tenants who can utilize the full house or unit.
2. Ownership Opportunities: NHSH’s preferred applicants should earn 120% or less of area median household income. In some cases, because of the extreme lack of affordable ownership opportunities on North Haven, NHSH may serve applicant households with income up to 200% of area medium income, providing they meet other requirements and conditions.
3. Applicants must agree to live in the house year-round and agree to abide by our affordability covenants (for ownership projects). Preference will be given to applicants who are currently employed year-round residents of North Haven.
4. Applicants must be capable of obtaining bank financing or otherwise verifiable financing for ownership projects.