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Monarch Townhomes is located in unincorporated Summit County.  The developer executed a Water Service Agreement with the Town to access the Town’s water. PIF fees valued at approximately $70,000.  In return, the units are subject to a housing covenant.

Neighborhood Summary:

 # of Units: 13
Density: 5.8 UPA
Type: Townhomes
Occupancy: Owner or Renter 
Neighborhood Amenities: Proximity to Rec Path, Trails, & Public Transit
Completed: 1996

Covenant Summary:

Employment: 30+ hours per week in Summit County
Property: Can own other property
Appreciation Limit: 5% per year or the change in AMI from year of purchase to sale date, whichever is less
Commission: 7%
Capital Improvements: 10%  of initial purchase price
Retirement: Partial retirement at age 55 only
Rent: No Short Term Rental Allowed.  Owners can rent rooms to qualified tenants



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