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Peg Malloy_BWH Portland 2011


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Peg Malloy_BWH Portland 2011

  1. 1. Portland Housing Center: Employer Assisted Homeownership Program
  2. 2. Employer Assisted Homeownership: Importance and Need <ul><li>Increase productivity, security, and property values by encouraging employees to purchase homes proximate to corporate facilities </li></ul><ul><li>Reduce the cost of employee recruitment, retention, and training by using housing benefits to attract and retain employees. </li></ul><ul><li>Improve community relations as good employees make good neighbors </li></ul><ul><li>Improve employee morale and life-cycle benefits </li></ul><ul><li>planning by helping employees achieve an </li></ul><ul><li>important life goal – owning a home </li></ul>
  3. 3. Employer Assisted Homeownership: Program Design <ul><li>Portland Housing Center works with individual employers to determine key program components, including: </li></ul><ul><ul><li>Program Administration and Services </li></ul></ul><ul><ul><li>Housing Benefit Financial Assistance </li></ul></ul><ul><ul><li>Employee Eligibility </li></ul></ul><ul><ul><li>Program Boundaries </li></ul></ul>
  4. 4. Employer Assisted Homeownership Employee Outreach Activities <ul><ul><li>Participation at Annual Employee Benefits Fair </li></ul></ul><ul><ul><li>Presentations on homebuying services both departmentally and agency-wide (i.e. Services Orientation, Credit and Budgeting workshops) </li></ul></ul><ul><ul><li>Information in employee communications (i.e. newsletters, intranet, benefit information packets) </li></ul></ul>
  5. 5. Employer Assisted Homeownership Employee Benefits <ul><ul><ul><li>Individual Homebuyer Assessment </li></ul></ul></ul><ul><ul><ul><li>Homebuying Counseling (budgeting, paying down debt, improving credit, shopping for loans, etc.) </li></ul></ul></ul><ul><ul><ul><li>Financial Literacy education classes </li></ul></ul></ul><ul><ul><ul><li>HomeBuying101 class </li></ul></ul></ul><ul><ul><ul><li>Individual Development Accounts (Matched Savings Program at a 3:1 match) </li></ul></ul></ul><ul><ul><ul><li>Mortgage products and down payment assistance </li></ul></ul></ul><ul><ul><ul><li>Post purchase education </li></ul></ul></ul><ul><ul><ul><li>(i.e. tax class, home maintenance) </li></ul></ul></ul>Access to Services
  6. 6. Employer Assisted Homeownership: Program Outcomes and Successes <ul><ul><li>Program is in its 3 rd year of implementation </li></ul></ul><ul><ul><li>7 employers currently participating (private sector, non-profit, public sector, and education) </li></ul></ul><ul><ul><li>130 total households have registered for services from these partnerships </li></ul></ul><ul><ul><li>79 households have realized their dream of homeownership </li></ul></ul>
  7. 7. Employer Assisted Homeownership: Future Program Goals <ul><ul><li>Ability to offer more onsite educational and loan opportunities </li></ul></ul><ul><ul><li>Develop employer programs that include grant opportunities for employees </li></ul></ul><ul><ul><li>Expand partnerships throughout the Portland Metropolitan area </li></ul></ul>
  8. 8. Contact Us For questions or inquiries regarding this presentation, contact: Peg Malloy, Executive Director [email_address] For more information and updates on the Portland Housing Center: