First-time homebuyers with household incomes between $65,000 and $85,000 depending on household size will be eligible for the lottery for low cost homes at Southside, the Bermuda Housing Corporation revealed yesterday.

The BHC revealed the criteria for those who wish to become eligible to purchase affordable homes at Southside in an exclusive interview with yesterday.

The BHC and Bermuda Homes for People are joining forces to build the 196 homes at Southside.

Ninety-eight will be sold for less than $200,000 and a further 98 will be sold for $600,000. The development will be named Harbourside Village.

?It?s needs-based as opposed to anything else,? BHC general manager Vance Campbell explained. ?That?s the uniqueness of the concept.?

Those wishing to purchase the affordable homes must apply through an application which may only be obtained at the BHC.

Successful applicants will be drawn by lottery. All applications must be received or postmarked no later than 4.45 p.m. on March 1, 2005, in order to participate in the lottery.

The applications are all numbered, meaning applicants will have to go to the BHC to pick up the forms to be eligible ? they cannot simply photocopy forms belonging to someone else.

When the applicants go to pick up their forms, the BHC will take down their contact information.

Once the applicant returns the completed form with all the other necessary information, the BHC will send a letter stating they have received it and the application is being considered.

If the applicants do not hand in their completed application by March 1, 2005, the BHC will send a letter saying they have missed their chance to apply.

When all the applications have been considered, the BHC will publish a list of those who meet the criteria.

From that list, several different groups will be created: all two-person households will be placed into one lottery, all three-person households placed in another lottery, and so on.

Then, assuming there are 30 two-person units available, the first 30 names drawn from the two-person household group will be entitled to purchase those homes.

A second 30 names from the two-person household group will then be drawn to serve as a waiting list. The same process will apply for the other households.

Mr. Campbell said the BHC dos not yet know how many of each unit will be available, however.

In total there are 98 units available at $199,000 each, with eight of those 98 set aside for seniors.

The cost is uniform across the board, regardless of whether or not the units are two-bedroom or six-bedroom.

The lottery will take place at a public drawing on June 3, 2005. To ensure fair administration and prevent bias, each person in the lottery will be assigned a number which will be entered into the lottery for unit size and type for which the applicant qualifies.

Each affordable unit will be sold subject to a deed restriction ensuring the unit remains affordable should the owners choose to sell it in the future ? i.e. owners will not be able to purchase the home for $199,000 and sell it later for anything significantly higher.

A further 98 homes priced at $600,000 will also be built in Harbourside Village, with eight of those also set aside for seniors, leaving a total of 16 homes set aside for seniors.

Some of those 16 will be one-bedroom units, however Mr. Campbell was uncertain as yet how many.

Though the original plan called for 100 of each type of home, Mr. Campbell said four buildings had been set aside for commercial purposes.

He said further information would have to come from Bermuda Homes for People, however was unable to contact that organisation by press time last night.