Ray Schmidt 071210

Workforce Housing in Action Minneapolis, MN July 12, 2010 EAH – Milwaukee, Wisc.

Our Mission Help people achieve the dream of homeownership in City neighborhoods to enrich their lives and strengthen the community
Homeownership Promotion
Foster sustainable homeownership
Provide advice & guidance
Rehab TA & resources
Relationships with reputable partners
Secure prime-priced financing
Purchase & repair incentives
Establish post-purchase relationship

Employer Assisted Homeownership
Originally a modest pilot effort with one firm
Helped build Select Milwaukee’s foundation
Advance mission
Forge partnerships
Reach market
Good PR

EAH – More than a niche
Substantial portion of production – 2009
85 sales – 50%
$11mm sales
$10.1mm quality mortgage loans
$246k employer investment
Leveraged additional $294k incentives
$46,100 median HH income; 85% AMI
54% of buyers families of color

EAH Program Model
Outsourced homeownership fringe benefit
Benefit administration
Employee services
Primary point of contact
Marketing/Outreach plan

Program Services: Employer
Program Administration
Employee Inquiries
Employee Benefit Processing
Track and monitor program participation
Marketing and Outreach
Provide site-based seminars
Success Stories

Program Services: Employee
Objective, timely finance & purchase info
Qualifications assessment
Credit/budget counsel when needed
Home purchase education
Secure prime-priced financing
Leverage incentives & subsidies
Referrals to trustworthy service providers

Outcomes
Successful, sustainable homeownership
Increased employee retention
Better performing workers
Workplace diversity enhanced
Stronger communities and neighborhoods

For more information visit www.selectmilwaukee.org or contact Joyce Smyth Keehn [email_address] 414-299-3624

Ray Schmidt 071210

by National Housing Conference & the Center for Housing Policy on Jul 13, 2010

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Ray Schmidt 071210 — Presentation Transcript