Fill - Free fillable BPDA Affidavit Of Eligibility New Homeownership 2018 12 And BPDA Disclosure PDF form

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 1 of 7

Owner or marketing agent to complete this section

Development

Submitted by: (Name & Company)

Date:

name:

(I/We), ______________________________________________________________________________________________________

Names of Buyer(s)

currently residing at ________________________________________________________________ , Unit _________________

Address

_________________________________________________________________________, ______________ ____________________

City/Neighborhood State Zip Code

( _________ )_______________________, __________________________________________________@_____________________,

Telephone E-mail Address

do hereby represent and warrant as follows:

The singular “I” or “my” below shall signify the plural in the case of more than one prospective purchaser.

I understand if I make any material misstatements or omissions in this Affidavit, I will be ineligible to

rent, purchase or own this or any unit with a BPDA income restriction.

Initials: _________ Initials: _________

The Property I intend to purchase is located within the City of Boston at the following address:

____________________________________________________________________________________, Unit ___________________

Street Address

_________________________________________________________________________, ______________ ____________________

City/Neighborhood State Zip Code

The purchase price of the property is: $___________________________

The purchase price of the parking space is: $___________________________ (if applicable)

The Total Price is: $___________________________

The estimated condo fee is: $___________________________ monthly

Buyer(s) must initial where indicated below on each page.

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 2 of 7

I certify that the amount to be paid for the Property shall not be greater than the Total Price stated in

#2 above. The Total Price shall include the aggregate value of all money, property, services, or other

consideration given, paid to, or for the benefit of the owner of the Property in connection with its

transfer, including any amount paid for any other real property or personal property conveyed by the

owner to me or any member of my household

I acknowledge that I received a copy of the Covenant for Affordable Housing (the “Covenant”). I have

read the Covenant, or have had it read to me, and understand the restrictions and requirements

contained therein. I understand I have the option of consulting an attorney to review the Covenant. I

understand that the Property is subject to the Covenant, and may not be sold, conveyed, or refinanced

without the express permission of the BPDA.

Any applicant who resides in a BPDA-restricted unit and fails to comply with the Covenant's requirements or

income/asset limits may be ineligible as an applicant for a different BPDA-restricted unit. The BPDA reserves

the right to deny approval of such applicant or household.

I intend to occupy the Property as my principal place of residence. I understand that I must live in the

Property continually for the duration of my ownership and that I may not lease, sublease, or rent the

Property in whole or in part for any length of time, including through services such as Airbnb. I will

occupy the Property within sixty (60) days of the closing date.

 

This section applies to applicants who are, or within the last 12 months have been, employed by the City of

Boston, and to applicants with one or more immediate family members who are, or within the last 12

months have been, employed by the City of Boston.

If applicable, City employee(s) must file a Disclosure of Appearance of Conflict of Interest with the City Clerk,

Room 601, Boston City Hall. The form is available online (click here) or from the City Clerk’s office. A copy of

the filed form (stamped as received by the City Clerk’s office) must be included with this Affidavit. Note: This

form only needs to be filed once, and does not need to be filed annually.

Note: the developer and immediate family members thereof, including the developer’s agents and employees

and immediate family members thereof, are prohibited from purchasing or renting any BPDA-restricted

housing unit in any project owned or managed by the developer. Employees of BPDA or any of its

subdivisions or affiliates (EDIC, OWD, etc.) as well as immediate family members thereof are prohibited from

purchasing or renting any BPDA-restricted housing unit.

“Immediate family” shall be defined as it is in M.G.L. c.268A, the Conflict of Interest Law. This policy may be

further expanded to include a broader degree of kinship, and may be refined to encompass a broader range

of parties other than a named developer or named applicant.

I am currently or have been, or a member of my immediate family is or has been, employed within the

last 12 months at the following department/agency of the City of Boston: _____________________________.

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 3 of 7

“Household” shall mean all persons whose names will appear on the deed, and also all persons who intend to

occupy the Property as their permanent primary residence.

Legally married couples shall both be considered part of the household, even if separated.

Income from employment is not counted for household members under the age of 18.

For purposes of income determination only, all household members are counted toward the applicable

household size parameter with two exceptions:

 Persons who have no employment income and who are not immediate family (as defined by

Massachusetts General Law c. 268A) of one or more of the primary applicants;

 Minors/dependents not listed on the most recent tax return or for whom the applicants have not

provided documentation of legal custody/guardianship.

The following includes all persons who intend to reside at the Property including myself.

Household size (total number of entries in column A): __________.

Eligibility of students is as follows:

 Full-time undergraduate students age 18 and over are not eligible unless they are co-buyers with an

immediate family member who is a non-full-time student.

 Full-time graduate students without income are not eligible unless they are co-buyers with an

immediate family member who is a non-full-time student.

The BPDA’s determination of full-time student status will be final.

For every household member 18 years or older who is a full-time student, I have attached proof of full-

time student status in the form of a letter from the Registrar or other enrollment verification.

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 4 of 7

Only income which is reported to the IRS or evidenced on official pay stubs and/or benefit letters may be

considered as income. The BPDA does not use income as reported on a W-2 to determine estimated current

annualized income. Income from wages, salaries, tips, etc., is the full amount, before any deductions, of gross

wages, salaries, tips, etc.

Income information may include the source and estimated current annualized gross amounts of all income,

both taxable and non-taxable, including but not limited to:

 Wages, salaries, tips, overtime, bonuses, commissions, fees, sick pay, and deferred income;

 Income received from: trusts, business activities (including partnership income and Schedule K-1

information), corporate distributions, rentals or leases, investments;

 Legally documented alimony and support payments, social security benefits, disability payments,

veterans’ benefits, and workers’ compensation; and

 Dividends, interest, annuities, pensions, distributions from IRAs or other retirement accounts. Any other

income or gains from any asset

Unemployment compensation is not considered income for eligibility purposes unless the applicant has a two-

year history of seasonal employment along with receipt of unemployment compensation.

The value of a housing voucher or other government benefits such as SNAP (food stamps) benefits is not

considered income for BPDA eligibility purposes.

Note: If applicants are substantially below the income limit, the BPDA reserves the right to request additional

documentation to determine applicants’ ability to purchase the Property.

Applicants must provide the two most recent years’ state and federal income tax returns (including any

attachments and amendments) for every household member age 18 years or older. Any household members

who did not file taxes must provide verification of non-filing from the IRS in lieu of the tax returns.

Copies of tax returns and verifications of non-filing may be obtained from the IRS by submitting Form 4506-T

(available online at www.irs.gov) or by calling the IRS. If further confirmation of tax documents is necessary,

BPDA may require an official tax transcript from the IRS.

Attached are the two most recent years’ state and federal income tax returns or verification of non-filing

for every household member age 18 years or older.

Attached are copies of the two most recent consecutive pay stubs for every household member age 18

years or older. If a member of my household is age 18 years or older and is not employed, I have attached

a notarized letter from them attesting to this fact.

If a household member is no longer employed at a W-2 job held during the most recent tax year, attach the W-2

with a signed letter of clarification from the household member including dates of employment.

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 5 of 7

(if applicable)

Attached is a current year-to-date profit-and-loss statement for every self-employed household

member 18 years or older.

Statement must show actual profits and losses, not projected profits and losses.

Assets include but are not limited to the following: checking or savings accounts, CDs, money market accounts,

Treasury bills, stocks, bonds, securities, trust funds, gifts, pensions, IRAs, other retirement accounts, current

assessed value of all real estate, rental property, and other real estate holdings, all property held as an

investment, and safe deposit box contents (include the value).

All accounts must be represented by complete statements, with all pages included, and must be no more than 60

days old. If a bank account has been closed within the past 60 days, a copy of the final bank statement showing

a zero balance must be submitted.

If a member of the household has disposed of an asset for less than the fair market value during the past two

years, the BPDA will consider the asset as belonging to the household and count its fair market value towards the

asset calculation.

When applying for a unit designated for households at or below 80% of the area median income (AMI), the

combined total assets of the household cannot exceed $75,000. When applying for a unit designated for

households in income categories greater than 80% AMI, the combined total assets of the entire household

cannot exceed $100,000.

Qualified retirement accounts (IRA, 401(k), pension plan, etc.) established at least six months prior to

application are exempt from consideration as part of the household’s total assets unless they are being

liquidated in whole or in part. Government-approved college savings accounts and health savings accounts

(HSAs) are also exempt. Supplemental needs trusts may be exempt from the asset cap. However,

documentation of these assets must still be submitted.

Buyer Initials: _________ Revised 12/19/2018

Co-buyer Initials: _________ Page 6 of 7

I have completed the chart below and attached supporting documentation for all assets held by each

household member 18 years of age or older.

Disclosure: if all assets are not disclosed at the time of application, the household may be denied approval.

Households determined to be ineligible cannot restructure their finances or household composition and reapply.

After an applicant is deemed ineligible for exceeding the income and/or asset limit, there will be a two-year

waiting period to reapply for a unit in the same income category.

I understand that co-signers and guarantors of mortgages or any lending instrument are not

permitted unless they are co-buyers of the Unit. In addition, I understand that I must obtain arms-

length financing from a bank or mortgage company, and that I may not borrow money for the

purchase from a family member, friend, or other private source.

I understand that any documents provided to the BPDA will not be returned.

Third-party verification: I authorize the BPDA to verify the information contained in this Affidavit and

obtain additional information regarding me and my household that is pertinent to eligibility for BPDA

income-restricted housing. (Every member of the household 18 years or older must sign below.)

Name (print): __________________________________ Name (print): _____________________________________

Signature: _____________________________________ Signature: ________________________________________

Date: __________________________________________ Date: _____________________________________________

Revised 12/19/2018

Page 7 of 7

Expiration Date of Income Certification: I understand that my BPDA Certificate of Compliance,

required at closing, is valid for 120 days from the date issued.

I understand that approval from any source other than the BPDA does not guarantee BPDA income

eligibility certification.

15. I declare under penalties of perjury that the information provided in this Affidavit of

Eligibility is correct, accurate, and complete in all respects.

Signed, sealed and delivered on this ________ day of ______________________________________ , 20 _________.

Buyer: ___________________________________________ ___________________________________________________

Print name Signature

Co-Buyer: ________________________________________ ___________________________________________________

Print name Signature

Note: All buyers must sign above and have their signatures notarized. Attach additional sheets if necessary.

Notaries may be found at most major bank branch locations.

On this the __________ day of __________________________________________________ , 20 _________ , before me

____________________________________________________, the undersigned Notary Public, personally appeared

_________________________________________________________ and proved to me through satisfactory evidence

of identity, which was/were _________________________________________ to be the person(s) whose name(s)

is/are signed on the preceding or attached document, and who swore or affirmed to me that the

contents of the document are truthful and accurate to the best of his/her/their knowledge.

_______________________________________________ _____________________________________

Notary Public My commission expires

Lottery applicants please see Appendix B for additional required documents.

All applicable items on this list must be included.

Incomplete Affidavits will be returned to the seller/agent and will delay the certification process.

All supporting attachments must be dated within 60 days of submission of the Affidavit.

Project & Unit #:

Information Expiration Date:

Application (new developments/lottery only)

Affidavit of Eligibility – initialed, signed, & notarized

- Unit address and price must be listed

- Missing initials, signatures, or notary stamp/signature

- Disclosure of Appearance of Conflict of Interest

form, if applicable (City of Boston employees only)

- Proof of residency (lottery only): either a or b

a) 2 different utility bills (gas/oil/electric/cable/phone)

b) current signed lease/shelter letter AND 1 utility bill,

proof of voter registration, proof of auto insurance

(w/garage address), or proof of renter’s insurance

- Letter from Registrar for full-time students

- Notarized letter from unemployed adults

Income calculation worksheet

Two paystubs (current)

- Self-employed: YTD profit and loss statement

Past 2 years’ tax returns and W2s &/or 1099s

- Federal taxes

- State taxes

- All W2s (all most recent W2s must have either 2 pay

stubs or an employment clarification letter)

- Did not file taxes? Submit IRS Form 4506-T to IRS

for proof of non-filing & send verification to BPDA

Asset statements* must include all pages

- Checking

- Savings (interest/dividends)

- eBanking

- IRA/investment account (interest/dividends)

- 401(k)/pensions (interest/dividends)

- Stocks, investments

Mortgage preapproval letter

Disclosure statement – must be signed by all buyers

* All assets must have interest and/or dividend information, and entire statements must be submitted. All

bank statements must be full and complete with all pages provided. Printed transaction histories are not

acceptable; however, printouts of regular monthly statements in PDF format are acceptable.

Revised 12/19/2018

If applying for preferences:

 Urban Renewal Displacee (This preference is rarely applicable.)

For persons displaced from the specific property and/or displaced from the relevant Urban Renewal Plan

Area by clearance and redevelopment activities carried out by the Boston Redevelopment Authority.

Attach a displacement notice or proof of residency at the time of displacement in the form of utility bills,

voting record, record of birth or other official documentation.

 Boston Resident preference

“Boston Resident” shall mean any individual whose permanent and principal residence, where he or she

normally eats, sleeps, and maintains his or her personal and household effects, is in the City of Boston.

Attach a copy of two (2) utility bills from separate utility companies in your name: electric, oil, gas, phone

(landline or cell phone) , cable/satellite. Bills must be dated within the last 60 days and display a service

address.

If utility bills cannot be provided, applicants must attach one document from each of the following

columns:

 Certified Artist preference

“Artist” shall mean an individual who has received a current City of Boston/BPDA/BRA Artist Certificate.

This section is applicable only if there are designated artist preference units in the development. For

more information on the BPDA’s Artist Certification program, please

visit http://www.bostonredevelopmentauthority.org/housing/artistspace-program.

Attach a copy of the Artist Certification letter from the issuing entity (City of Boston, BPDA, or BRA).

Revised 12/19/2018

 current signed lease

 official letter from a homeless shelter

confirming current residency (must be on

shelter letterhead and signed by an

executive or manager authorized to act on

behalf of the agency).

 one bill from any of the above utilities

 proof of automobile insurance (showing

the address where the car is garaged)

 proof of renter’s insurance

 proof of voter registration

In an effort to better understand who the Boston Planning & Development Agency (“BPDA”) serves in income-

restricted housing, and to provide program level data to the U.S. Department of Housing and Urban

Development, the BPDA requests that all residents of units monitored by the BPDA have the opportunity to

complete this form on race and ethnicity. This information will only be used in aggregate, for the purposes of

reporting and analysis. There is no penalty for persons who do not complete the form.

This form is to be completed by individuals who are seeking to live (applicants) or are currently living

(residents) in deed restricted housing monitored by the BPDA.

Owners and agents are required to offer the applicant/resident the option to complete the form. The form is

to be completed at initial application or at lease signing. In-place tenants must also be offered the

opportunity to complete the form as part of the next interim or annual recertification. Once the form is

completed it need not be completed again unless the head of household changes.

To complete the form, the response is for the race and ethnicity of the head of household only.

1. The two ethnic categories you should choose from are defined below. You should check one of the two

categories.

a. Hispanic or Latino. A person of Dominican, Puerto Rican, Cuban, Mexican, South or Central

American, or other Spanish culture of origin, regardless of race.

b. Non-Hispanic or Latino. A person not of Dominican, Puerto Rican, Cuban, Mexican, South or Central

American, or other Spanish culture of origin, regardless of race.

2. The five racial categories to choose from are defined below. You should check as many as apply to you.

You may also check “other” and provide additional information.

a. American Indian or Alaska Native. A person having origins in any of the original peoples of North,

Central, and South America, and who maintains tribal affiliation or community attachment.

b. Asian. A person having origins in any of the original peoples of East Asia, Southeast Asia, or the

Indian subcontinent including, for example, Vietnam, China, Taiwan, Cambodia, India, Japan, Korea,

Malaysia, Pakistan, the Philippine Islands, and Thailand.

c. Black or African American. A person having origins in any of the black racial groups of Africa.

d. Native Hawaiian or Other Pacific Islander. A person having origins in any of the original peoples of

Hawaii, Guam, Samoa, or other Pacific Islands.

e. White. A person having origins in any of the original peoples of Europe, the Middle East (West Asia),

or North Africa.

Revised 12/19/2018

Name of Property: Property Address:

Name of Developer/Property Manager:

Name of Head of Household: Name of Co-Head of Household:

Ethnic Categories

Select One

Hispanic or Latino

Not Hispanic or Latino

Racial Categories

Select All that Apply

American Indian or Alaska Native

Asian

Black or African American

Native Hawaiian or Other Pacific Islander

White

Other _____________________________

Head of Household Signature Date

Co-Head of Household Signature Date

Please submit the completed form with the Affidavit of Eligibility.

Revised 12/19/2018

DISCLOSURE STATEMENT

BOSTON REDEVELOPMENT AUTHORITY

Deed-Restricted Home Ownership Units

WHY ARE THERE SPECIAL CONDITIONS ON THE USE AND RESALE OF THESE

HOMES?

The Boston Redevelopment Authority (“BRA”) has made a commitment to provide

affordable homeownership opportunities to Boston residents. Using public land, financing

assistance, and relief from regulation, housing is made affordable by reducing the purchase

price to below market values, thus reducing monthly mortgage payments and requiring

lower down payments.

With this help, many families who could not afford to purchase a home in the private market

will be able to own their own home. To preserve these benefits for future buyers, certain

conditions are placed on the use and resale of the property. They are designed to balance the

interests of initial and future owners in a fair way.

To ensure that these special use conditions are maintained, you will receive yearly

monitoring letters from the BRA. Included in the letter will be an Affidavit of Owner

Occupancy. You must sign and return the affidavit to the BRA within twenty (20) business

days.

WHEN CAN I SELL MY HOME?

You may sell your home at any point after which you have notified the BRA of your plans to

sell and have received your “Maximum Resale Price” from the BRA.

FOR HOW MUCH WILL I BE ABLE TO SELL MY HOME? WHAT IS MY MAXIMUM

RESALE PRICE?

The sales price of your home must be no more than the Maximum Resale Price, and may be

sold for less than the Maximum Resale Price in order to be available to an Eligible Purchaser.

After notifying the BRA that you would like to sell your home, you will receive your

Maximum Resale Price. The Maximum Resale Price is set in accordance with a formula that

gives a fair return on your investment but keeps the house affordable to the next buyer. The

BRA will calculate your Maximum Resale Price as follows:

The “Maximum Resale Price” - 3% Formula: Your initial purchase price will be multiplied by

3% per year for each year you lived in the home.

Adding the Cost of Home Improvements: Certain home improvement costs can be included

in the Maximum Resale Price. Eligible costs include “capital improvements,” as defined by

the IRS, which significantly increase the value of your home, such as an addition. Routine

repair and replacement costs are not eligible. These additional costs are limited to an annual

increase of 1% of the purchase price. These costs must be properly documented at the time

- 2 -

the property is sold. (NOTE: the full cost of additional bedrooms and some bathrooms may

be added.)

TO WHOM CAN I SELL MY HOME?

When you sell your home, you must sell to a person whose income category is the same as

yours at the time of your purchase of your home and whom the BRA has approved as an

eligible buyer. For example, if you qualified as a moderate-income household below 80% of

the Boston area median income, you must sell your home to another moderate-income

household below 80%. You must also comply with the BRA’s household size requirements in

effect at the time of sale. To receive BRA approval on your potential buyer, the BRA must

income certify the candidate similar to the way you were certified at the time you purchased

the unit.

However, the BRA will also have the right to purchase the unit or to find a buyer to purchase

the unit. This is called an Option to Purchase. The sales price will be the Maximum Resale

Price. (If, in unusual cases, the market value is less than the Maximum Resale Price, the BRA

will use an appraisal to determine the sales price.) If the BRA does not exercise its Option,

you may sell your home to an eligible buyer, as described above, for a price that is within the

Maximum Resale Price.

CAN I RENT MY HOME TO SOMEONE ELSE?

You must agree to live in this property as your principal place of residence. In no event

are you allowed to rent the property in whole or in part to other person(s).

HOW LONG DO THESE RESTRICTIONS APPLY TO THE PROPERTY?

The use and resale restrictions described here apply to the property for fifty (50) years from

the date of the initial purchase.

WILL I HAVE TO PAY CONDOMINIUM FEES?

When purchasing a BRA deed restricted unit, as with most condominium units, you may be

required to pay periodic condo fees. Although the exact rate may not be determined at the

time of purchase, the seller should be able to provide an estimate.

WHAT LEGAL DOCUMENTS DO I NEED TO REVIEW AND SIGN?

The unit restriction information in this document includes the most important items from the

Covenant for Affordable Housing, recorded at the Suffolk Registry of Deeds along with the

deed to your unit, a complete version of which is available to all lottery winners. If you are a

lottery winner, you should review this document carefully before you sign a Purchase and

Sale Agreement. At the closing, if you decide to purchase a deed-restricted unit, you will be

required to execute a Principal Residence Affidavit, and a BRA Note and Mortgage to secure

- 3 -

any penalties incurred if the affordability covenants are not followed. AN ATTORNEY'S

ADVICE WILL BE HELPFUL TO YOU IN REVIEWING THESE DOCUMENTS.

I/We hereby acknowledge that I/we have read and understand this Disclosure Statement.

Execution at Time of Application for Deed-Restricted Housing

Witness:

, Applicant

Dated:

Reaffirmation at Title Closing

I/we have received and read a copy of the Covenant for Affordable Housing that is

referenced on page 3 of this Disclosure Statement.

Witness:

, Buyer

Dated:

- 4 -

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