EXHIBIT 4

EXECUTIVE SUMMARY

Webster Mill Place is a proposed 20 unit new construction multifamily development to be built on 19 acres on Ossipee Trail Road (Route 25) in Limington, York County, Maine.  The development consists of seven buildings: two duplexes, and three fourplexes.  One duplex contains 2-bedroom units, and one duplex contains 3-bedroom units.  The fourplexes each contain one 1-bedroorn, one 2-bedroom and two 3-bedroom apartments.  The total bedroom mix is three 1-bedroom, seven 2-bedroom and ten 3-bedroorn apartments.  All units have a private entrance.  In addition, there is a separate community building where a laundry and community gathering space will be provided.  York-Cumberland Housing intends to include Webster Mill Place in its Neighborhood Networks master plan as funds are raised, supplying computers, training, and access to the Internet to residents completing the training program.  There also will be playground equipment, picnic tables and park benches.

Preference will be given to applicants earning 50% of area median income and below.  Income targeting will further be restricted as follows: 6 units will be income restricted for 0-30% of median income households, 6 units will be income restricted for 31-50%, and 8 units will be income restrictedto 51-60% but only after all applicants earning 50% and below have been accepted.  For all residents, rents will be calculated at 30% of resident's income, adjusted for utility allowances.  It is anticipated that the majority of the residents will be families, although the one-level one-bedroom apartments would be suitable for elderly residents, One 2-bedroom apartment will be fully accessible to a disabled person, and an additional 2-bedroom apartment will be suitable for a hearing or vision impaired dresident.  Four of the apartments will be set aside for homeless individualsifamilies.  The apartments will be managed by York-Cumberland Housing Management Corporation (YCHN4C).  YCHMC will develop an Affirmative Fair Housing Marketing Plan using its extensive list of outreach links, including Preble Street Resource Center, York County Community Action, and local newspapers.  In addition, applicants on YCHMCs waiting lists and YCHDC's Section 8 waiting list will be notified.

York-Cumberland Housing Development Corporation (YCHDC) is the general partner of Webster Mills Associates, LP, a newly formed limited partnership.  YCHDC has submitted an application to Rural Development for $1,000,000 and 20 units of rental assistance under the nonprofit setaside of the Section 515 program.  YCHDC also plans to submit an application to the Federal Home Loan Bank of Boston Affordable Housing Program for $120,000 grant funds.

Return to the June 8, 2000 Limington Free Press

Note: This letter is taken from the Webster Mill Place application at the Maine State Housing Authority