The Chaffee Housing Trust received $40,000 to go towards holding four two-bedroom homes in the Farm subdivision that will remain permanently affordable, targeting homebuyers making 80 percent of Area Median Income.

April 18, 2019
Chaffee County Times

Freeport-McMoRan, the Phoenix, Arizona-based molybdenum and copper producer that owns the Climax mine in Leadville, announced its grant recipients last week, totaling $300,400 in monetary awards.

Housing Trust director Reed McCulloch said that the funds would go toward holding four two-bedroom homes in the Farm subdivision in Buena Vista. Under the Housing Trust's community land trust model, the four houses would remain permanently affordable, targeting homebuyers making 80 percent of Area Median Income, McCulloch said.

"The Chaffee Housing Trust uses the Community Land Trust Model of shared equity ownership to create a sustainable inventory of permanently affordable homes for low-income workforce members and their families. The project will add four homes for low-income families, sustainably holding those homes in trust for the benefit of current and future generations as well as the community and the local economy," a news release from Freeport-McMoRan said.

The four homes add to the Housing Trust's inventory of 6 homes in Salida and one in Buena Vista, McCulloch said.

 

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