“Recycle” Home Project
PROJECT ANNOUNCEMENT (2021):
We are currently working on a former & now future Habitat “Recycle” home in Ellsworth. HOW DID WE REACQUIRE THE HOME? Recognizing that our Partners may have a change in job, life circumstance, etc., Habitat’s mortgages allow that a home may be sold at any time under certain provisions. If the original occupant chooses to sell the home, Habitat has the first right of refusal (the option to buy it back before anyone else)—less any outstanding mortgage amounts still owed and less any increase in equity shared between the Partner and the affiliate. Along with a forgivable 2nd mortgage, the first right of refusal helps to protect the investment in the home by volunteers & donors and allows Habitat to retain the home as an affordable unit of housing.
Built in 2010, the home is refreshed for its next occupant(s) through our traditional model of volunteer support and the qualified Partner(s)’ sweat equity. The original floorplan will be slightly modified to allow for any future ADA accessibility needs of the applicants.
We’ve selected the partner for this home, but we’re not yet sharing their story as they are on a month-to-month lease, and doing so prior to having a firm closing date could create a housing stability issue for them. We look forward to sharing more with you later!
A Special Note to Our Supporters: Working on this project does not detract from our 20th new home build [built in partnership with Sonia G. on the Blue Hill Peninsula], as that home is in the site clearing and basic infrastructure phase — work performed by an area contractor, not our volunteers.