Employer Assisted Housing Programs Donald Terry Neighbor Works

Employer Assisted Housing Programs Donald Terry Neighbor. Works 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 Neighbor. Works 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 Neighbor. Works 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 • Neighbor. Works Home Ownership Center Sacramento Region • 2411 Alhambra Blvd. , Suite 200 • Sacramento, CA 95817 • 916. 661. 5643