Melody Grove

What Melody Grove's governing documents say

This is a land use restriction covenant for Melody Grove, an elderly (55+) affordable housing community in Waco, TX, funded through Low-Income Housing Tax Credits. It binds the property owner/developer, not residents, to keep the property income-restricted and affordable for a long term (at least 30 years). Prospective renters should know that income limits and possibly age restrictions apply.

• Affordability & income limits: All units must be leased to households with imputed incomes averaging no more than 55% of area median income. At least 8 units are set aside for households at or below 30% of AMI.
• Age restriction (55+): The property is designated as an Elderly development, so residents must meet age requirements (typically 55+), though the exact age isn't specified in this excerpt.
• Occupancy preferences: A preference exists for single-person households in one-bedroom units due to HUD funding, and homeless individuals on the Continuum of Care preference may apply.
• Binding term: The affordability restrictions run with the land for at least 30 years (15-year compliance period plus extended use period), and survive foreclosure in most cases.
• What this document doesn't cover: This is not a community ruleset. It doesn't cover typical HOA/condo rules like pets, parking, maintenance, or resident conduct. Those would be in separate lease agreements or house rules.

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.