THRESHOLD HOUSING DEVELOPMENT INC

THRESHOLD HOUSING DEVELOPMENT'S (THD) PURPOSE IS TO ACQUIRE, DEVELOP, HOLD, OPERATE, MAINTAIN, AND MANAGE REAL AND PERSONAL PROPERTY.THD'S MISSION IS TO DEVELOP, PROMOTE, ENCOURAGE OR ENHANCE THE LEVEL OF SELF-SUFFICIENCY OF LOW INCOME, DISABLED, OR ELDERLY INDIVIDUALS AND FAMILIES THROUGH DEVELOPING AFFORDABLE, EFFICIENT HOUSING UNITS, FOR BOTH RENTAL AND OWNERSHIP BY LOW INCOME FAMILIES OR INDIVIDUALS. THRESHOLD ACCOMPLISHES ITS MISSION THROUGH VARIOUS METHODS. OVER THE LAST 25 PLUS YEARS, THRESHOLD HAS ESTABLISHED MANY INNOVATIVE PARTNERSHIPS THAT HAVE LED TO THE DEVELOPMENT OF MORE THAN 150 NEW HOMES AND 150 REHABILITATED HOMES THROUGHOUT FAYETTE, GREENE, AND WASHINGTON COUNTIES.CURRENTLY, THRESHOLD ACCOMPLISHES ITS HOUSING DEVELOPMENT GOALS THROUGH THREE DIFFERENT PROGRAMS: NEW CONSTRUCTION, REHABILITATION FOR RESALE AND THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM.FOR REHABILITATION FOR RESALE: THRESHOLD PURCHASES AND REHABILITATES HOMES THAT ARE SOLD TO FAMILIES AT OR BELOW 80% OF AREA MEDIAN INCOME. PARTICIPATING FAMILIES MUST HAVE 3% OF THE TOTAL PURCHASE PRICE AT CLOSING AND MUST SECURE A MORTGAGE LOAN FOR 80% OF THE COST OF THE HOME. THE OTHER 17% OF THE PURCHASE PRICE AND ALL OF THE CLOSING COSTS ARE PROVIDED TO THE FAMILY THROUGH A DEFERRED SECOND MORTGAGE. THRESHOLD HAS PRODUCED THIS TYPE OF HOUSING USING VARIOUS FUNDING TYPES. MOST RECENTLY, THRESHOLD HAS PERFORMED THIS PROGRAM RECEIVING HOME INVESTMENT PARTNERSHIPS PROGRAM FUNDS SUBCONTRACTED THROUGH LOCAL REDEVELOPMENT AUTHORITIES.FOR THE USDA RURAL DEVELOPMENT SELF-HELP PROGRAM: PARTICIPATING FAMILIES ARE APPROVED FOR A MORTGAGE THROUGH USDA RURAL DEVELOPMENT. THE MORTGAGE WILL THEN BE USED TO PURCHASE A HOUSE AND NECESSARY MATERIALS TO REHAB THE HOUSE. IT IS ANTICIPATED THAT THE AMOUNT OF TIME NEEDED TO REHAB THE HOUSE WILL BE APPROXIMATELY 120 HOURS. THRESHOLD WILL PROVIDE AN EXPERIENCED CONSTRUCTION SUPERVISOR TO INSTRUCT THE HOMEOWNER IN THE SKILLS NEEDED TO PERFORM THE WORK AND TO PROVIDE ONGOING SUPPORT AND GUIDANCE.