Employer Assisted Housing Programs

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Presentation transcript:

Employer Assisted Housing Programs Donald Terry NeighborWorks Home Ownership Center Sacramento Region

Overview What are the options? Acquire Homes and/or Build Housing Home Ownership Assistance Direct Lending Rental Assistance Capital Investments (CDFIs) How can NeighborWorks Help?

Acquire and/or Build Acquisition of existing homes Work with developers to build workforce only housing (I know its Tahoe…) Utilize local government owned land For rent to employees City Manager’s House? For sale only to employees

Home Ownership Assistance Home Buyer Education and Counseling Down Payment Assistance Loans For Closing Costs Payment Deferred Direct Mortgage Lending Land Trusts Equity Share Mortgages

Rental Assistance Stipends for Security Deposits Bonding for damages to incentivize landlords Monthly Allowances for housing in addition to normal compensation

Capital Investments Community Development Financial Institutions (CDFI) Community Development Corporations (CDC) Revolving Loan Funds Direct Investment in Housing Developments Land Trusts Community Reinvestment Act (CRA) Investments from Banks

How can NeighborWorks Help We are: A CDFI Acquire Land, Homes, Construction Management Services Down Payment Assistance Administer Home Buyer Education USDA Direct Lending No Down No PMI

Questions? Donald Terry Director of Real Estate Development NeighborWorks Home Ownership Center Sacramento Region 2411 Alhambra Blvd., Suite 200 Sacramento, CA 95817 916.661.5643