A 45-year deed restriction will be recorded on your property, which will outline the process for selling your home. When you want to sell your home, you will be required to contact the City for the eligible resale purchase price and to sell the unit to a very low, low or moderate income household (whose income is approved by the City) at the resale price. Your appreciation will be limited by this restriction to a level affordable to a very low, low or moderate income household, as calculated by the City, based on the federal area median income levels for Alameda County in effect at the time you sell.

The resale price of a below market rate home at Glashaus will not appreciate at
the same rate as a market rate investment. You will gain some of the benefits of
homeownership, including the tax-deductibility of your interest and property tax
payments and control over your residence. But you must occupy the unit as your principal residence for the entire time you own the property and you will not earn market-rate appreciation. You must also obtain City approval whenever you obtain new mortgage financing while you own the property.

When you sell the unit you will be required to sell to a household that is very low, low or moderate income under the income limits in effect at the the time of your sale. The unit must be sold at a price affordable to a very low, low or moderate income household as calculated by the City of Emeryville. These resale controls remain in effect for 45 years or until you sell or transfer the property, whichever comes first. The new owner will then enter into the same resale restriction agreement with the City of Emeryville.