THE TOWNS @ CITY VILLAGE BY SUMMERHILL HOMES
3 - 3 bedroom Low Income Units
1 - 4 bedroom Low Income Unit
2 - 3 bedroom Moderate Income Units
2 - 4 bedroom Moderate Income Units
Please Note: Income limits have changed since the last release, so please reference the most recently published household maximums for Contra Costa County for your household size to determine which drawing will be appropriate for you, as you are allowed to be in one.
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*Images may not be representative of the BMR units
INFORMATION & ANNOUNCEMENTS
City Village, a collection of 404 homes, will include a two-acre public park and open spaces, walking and biking trails, gathering nodes, seating areas, and a community barbecue area.
The three distinct neighborhoods include The Towns, The Rows, and The Courts.
The Towns is a collection of 136 three-level attached townhomes with three or four bedrooms, ranging from 1,720 to 2,250 sq. ft.
4 will be Very Low Income
6 will be Low Income
10 will be Moderate Income
The City of San Ramon is NOT offering any Down Payment Assistance.
PROGRAM DOCUMENTS & DISCLOSURES
Resale Restriction, Deed of Trust, and Notice of Affordability
This program requires you to sign a Restriction Agreement.
Resale Restriction Terms: 30 Years
Understanding the intricacies of the program documents is crucial when considering participation in a housing program. Deed restrictions, agreements, promissory notes, and deeds of trust are all legal instruments that can significantly impact the rights and obligations of property owners. For instance, deed restrictions can limit how a property is used, who you can sell it to, refinancing, and upgrading the home, and it requires the owner to occupy the home. It also sets conditions for its future sale, which includes a cap on the resale value and/or an equity share, depending on the program. Similarly, a promissory note is a binding promise to repay a loan and/or excess sales proceeds (the difference between the home's fair market value and the maximum restricted resale price), and a deed of trust secures the promissory note by placing a lien on the property. Click below to access & review the documents to ensure this program is for you. You can hire an attorney to help you understand the Program Documents you’ll sign and promise to abide by.
CITY PREFERENCES APPLY… Please refer to Exhibit E for more details.
OPPORTUNITY DRAWING #621
3607 Iceberg Court #372
3710 Lava Court #378
5710 Melon Court #398
3 Bedroom / 3.5 Bathroom
Approx. 1716-1817 Sq Ft
Price: $272,392
HOA: $356.39
Property Designated AMI: Up to LOW Income
Occupancy Standard: Household Minimum 3, Maximum 7 people
The Deed Restriction Terms: 30 years; review documents at the bottom of the page.
Please refer to the ODN (Right) for additional information.
Note: The Final Ranking number is subject to change after preferences are verified.
Important Deadlines
Date Open to Enter Drawing: 9/20/2024
Drawing Entry Deadline: 10/25/24 @ 5 PM
Initial Items Due by 10/25/2024 5 PM (Initial Items due from everyone, please see the Opportunity Drawing Notice)
Ranking results will be published approx. 10/30/2024
File Submission Deadline: 11/15/2024 by 5:00 PM - ADDITIONAL ITEMS ARE DUE from the top 50 Final Ranking Numbers (aka Batch #1). See the Opportunity Drawing Notice for details. Note: Final Ranking numbers above 50 will be assigned a File Submission deadline separately IF backups applicant files are needed. Please be ready.
OPPORTUNITY DRAWING #622
2116 Ivory Terrace #313
4 Bedroom / 3.5 Bathroom
Approx. 1988 Sq Ft
Price: $293,494
HOA: $356.39
Property Designated AMI: Up to LOW Income
Occupancy Standard: Household Minimum 4, Maximum 9 people
The Deed Restriction Terms: 30 years; review documents at the bottom of the page.
Please refer to the ODN (Right) for additional information
Important Deadlines
Date Open to Enter Drawing: 9/20/2024
Drawing Entry Deadline: 10/25/24 @ 5 PM
Initial Items Due by 10/25/2024 5 PM (Initial Items due from everyone, please see the Opportunity Drawing Notice)
Ranking results will be published approx. 10/30/2024
File Submission Deadline: 11/15/2024 by 5:00 PM - ADDITIONAL ITEMS ARE DUE from the top 50 Final Ranking Numbers (aka Batch #1). See the Opportunity Drawing Notice for details. Note: Final Ranking numbers above 50 will be assigned a File Submission deadline separately IF backups applicant files are needed. Please be ready.
OPPORTUNITY DRAWING #623
5307 Lava Court #382
5607 Linen Court #392
3 Bedroom / 3.5 Bathroom
Approx. 1817 Sq Ft
Price: $585,816
HOA: $356.39
Property Designated AMI: Up to Moderate Income
Occupancy Standard: Household Minimum 3, Maximum 7 people
The Deed Restriction Terms: 30 years; review documents at the bottom of the page.
Please refer to the ODN (Right) for additional information
Important Deadlines
Date Open to Enter Drawing: 9/20/2024
Drawing Entry Deadline: 10/25/24 @ 5 PM
Initial Items Due by 10/25/2024 5 PM (Initial Items due from everyone, please see the Opportunity Drawing Notice)
Ranking results will be published approx. 10/30/2024
File Submission Deadline: 11/15/2024 by 5:00 PM - ADDITIONAL ITEMS ARE DUE from the top 50 Final Ranking Numbers (aka Batch #1). See the Opportunity Drawing Notice for details. Note: Final Ranking numbers above 50 will be assigned a File Submission deadline separately IF backups applicant files are needed. Please be ready.e
OPPORTUNITY DRAWING #624
5506 Linen Court #386
2002 Ivory Terrace #324
4 Bedroom / 3.5 Bathroom
Approx. 1988 - 2249 Sq Ft
Price: $631,980
HOA: $356.39
Property Designated AMI: Up to Moderate Income
Occupancy Standard: Household Minimum 4, Maximum 9 people
The Deed Restriction Terms: 30 years; review documents at the bottom of the page.
Please refer to the ODN (Right) for additional information
Important Deadlines
Date Open to Enter Drawing: 9/20/2024
Drawing Entry Deadline: 10/25/24 @ 5 PM
Initial Items Due by 10/25/2024 5 PM (Initial Items due from everyone, please see the Opportunity Drawing Notice)
Ranking results will be published approx. 10/30/2024
File Submission Deadline: 11/15/2024 by 5:00 PM - ADDITIONAL ITEMS ARE DUE from the top 50 Final Ranking Numbers (aka Batch #1). See the Opportunity Drawing Notice for details. Note: Final Ranking numbers above 50 will be assigned a File Submission deadline separately IF backups applicant files are needed. Please be ready.
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