According to the Orange County Register, after three long years, it appears a settlement is at-hand between Surf City officials and some local area residents. Homeowners in the Cape Ann affordable housing development filed suit in 2006 alleging that they were misled into believing that their homes would appreciate without restrictions and according to the market rate.

Buying affordable housing tracts enabled the Cape Ann homeowners to purchase their homes at a below-market rate. Based on the restrictions of [...]

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