The City donated two lots to CRHA for the development of homebuyer properties to be marketed to income-eligible homebuyers employed by the City of Chesapeake. Because municipal workers such as police, fire, emergency, and teachers play such a vital role in Chesapeake, it is essential that they have an affordable place to live in the communities that they serve. The homebuyer will purchase and pay taxes on the improvement only. Deed restrictions will ensure affordability in perpetuity. VHDA has agreed to provide the mortgage for the two lots based upon a land lease contract. These homes will provide homeownership opportunities to two municipal employees through a selection process.
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