Dear Potential Homeowner,

Thank you very much for your interest in the Islander Village Community.

This introduction is intended to give you more information about the Islander Village community, the individual homes, and about the steps we will need to take together to move towards you purchasing a home of your very own.

The homes are located on Stock Island, all the way down 5th Avenue, at the old Islander Drive-In Movie Theater. The first two phases totaling 43 homes are complete the famiies have all moved in and are enjoying their new home and community.

Islander Village is an 89-unit community made up of 2 and 3 bedroom units. The 2 bedroom 1.5 bath units have approximately 940 square feet of interior space, the 2 bedroom 2.5 bath units have approximately 1,148 square feet of interior space, and the 3 bedroom, 2.5 bath units have approximately 1,274 square feet of interior space.

• Impact Glass windows and doors… no shutters.
  
  
• Incredible low insurance rates… approx $1,400 per year for ALL insurances.
  
  
• Very Energy Efficient Homes…Homeowners report electric bills between $100 - $160 per month.
  
  
• Low taxes… because the price of your home is much less than a comparable market rate home. ($2,000-2,500 per year depending on the size of your home)
  
  
• Low Homeowners fee of $137 per month (includes your base cable bill, landscaping maintenance, irrigation, pool maintenance, common area insurance, community electric and management fees).
  
  
• 160 MPH rated homes…. Above current codes, making the homes very safe.
  
  
• Nine foot ceilings on the first floor, making the homes feel more spacious.
  
  
• Complete kitchen appliance package and washer/dryer hookups.
  
  
• Spacious 7' foot back porches. Large enough for a 4-top table and chairs.
  
  
• Ceiling fans throughout the home.
  
  
• Lattice around the base of the homes, for a cleaner looking neighborhood.
  
  
• Parking under half of the units and in front of the remaining units.
  
  
• 4 different styles of metal roofs for a varied “Key West” architecture look.
  
  
• Five different exterior colors, three different types of wood railing and gingerbread trim sprinkled throughout will make this community beautiful.
  
  

Islander Village neighborhood features:

• A large swimming pool, covered pavilion and bathhouse with restrooms.
  
  
• A fenced children’s playground.
  
  
• A community park with a pavilion and BBQ for neighborhood get-togethers and birthday parties.
  
  
• A large fenced dog park for our furry friends.
  
  
• Lush indigenous landscaping and an irrigation system throughout the community.
  
  

Islander Village is built on land that is owned by Monroe County and leased back to the homeowners for 99 years. The homeowners own their homes, but the underlying land is owned by Monroe County and the homes are subject to the lease. The 99-year lease sets up guidelines to ensure that the Islander Village homes will be affordable in perpetuity. You will be given the opportunity to read the 99-year lease with the Homeowner’s Documents. In order to help you understand the 99-year lease we have included a list of the most frequently asked questions.

Islander Village is a Moderate Rate Affordable Housing community as defined by the Monroe County Code. In order to purchase a Moderate Rate Affordable Home you must be “income-eligible”. The maximum amount that a household can earn is based on the Median Income which is published by HUD every March. The median income has gone up an average of 3% per year over the past 10 years. This year, February 2008 to March 2009, the maximum income that can be earned is as follows:

We will look at your income qualification documents and pre-qualify you for the purchase of a home at Islander Village. Please note, that at the time the Purchase and Sale Agreement is executed you may be requested to present your income qualifications again and will be asked to complete and attest to an Income Eligibility Affidavit.

The price's of the homes at Islander Village are between $265,000 and $299,900.

If you are interested in Islander Village please call us to set up a showing. We look forward to meeting with you and answering any questions you may have. Please feel free to call us at any time.

Sincerely yours,

Debbie Swift (305) 293-3255, (305) 509-1958
Joyce A. Unke (305) 294-3225