Corinthian Oaks

What Corinthian Oaks's governing documents say

This document is an affordable housing deed restriction for one specific rental unit (3306 Syracuse Drive) in the Corinthian Oaks Addition. It binds the property owner (not tenants) to income and tenant eligibility rules for a 15-year period (2001–2016), after which restrictions may have expired. Prospective renters should verify current status with the owner or city.

• Affordability & income limits: Rents must be set at or below HUD's Low HOME Rent level, which is based on 30% of adjusted income for a very-low-income household (income ≤ 50% of Area Median Income adjusted for household size).
• Tenant eligibility (special needs): The unit may only be leased to a household that qualifies as a 'Person with Disability' (an adult with a long-term physical/mental/emotional impairment that impedes independent living) OR as a 'Homeless Family' participating in a transitional housing program (typically 18–24 months).
• Restriction duration & termination: The affordability and use restrictions apply for at least 15 years from the declaration date (May 1, 2001–May 1, 2016). Upon sale or refinancing before the end of the period, the full subsidy ($27,000) must be repaid unless the new owner continues the restrictions. Restrictions terminate upon foreclosure.
• What this document doesn't cover: This is not a full HOA or neighborhood rulebook. It does not cover pet policies, parking, architectural standards, or general community amenities. It applies only to the single unit at 3306 Syracuse Drive.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.