Funding for Fawn Valley
Since HDC operates as a 501C3 public charity, funding can be supported by multiple sources. An estimated 20% of the cost are being supported through donations, grants, and private lenders. Additional financing is being supported by a line of credit from Champlain National Bank.
A Homeowners Association will be developed by HDC for the townhouses. The six Cape homes with their own properties will not need to be part of the HOA.
OUR PARTNERS
NORTH ELBA LOCAL ENHANCEMENT AND ADVANCEMENT FUND
The North Elba LEAF is a grant fund, established by the town of North Elba through the 2% increase in occupancy tax in 2019, has a mission “to provide funds for programs, activities, and facilities that will have direct benefits to our communities and improve the quality of place for both residents and visitors.”
With the infrastructure of Fawn Valley costing $400,000, LEAF funding has been a great help in covering construction costs. Some specific ways the funding has been used on infrastructure:
Site excavation, grading
Storm water protection for wetlands
Primary electrical installation
New 320’ sewer line (to replace 100 year old existing line)
New water main from Wesvalley Road into the site
Build of new road - Pioneer Lane
LEAF funds are awarded to local nonprofits, municipalities, public sector organizations and regional agencies based upon specific eligibility criteria:
Prove a positive impact to the community with your project
Demonstrate sound administrative & financial management
Not solely rely on LEAF funding for completion
Complete project within a defined timeline
To learn more about LEAF, what is required & how to apply please visit https://www.roostadk.com/leaf
Get Involved
Our goal is not only make a dent into the current lack of affordable housing in our area, but to inspire other developers to do the same. Join our cause and contact us now to learn more about how you can help us fund this needed project.