For eligible employees, this program provides:

• “Forgivable loans” of up to $15,000 in the designated neighborhood revitalization areas to eligible employees for down payment and closing cost, rehabilitation and renovation assistance for the purchase of houses, condominiums, town houses and duplexes.
• The loans will be secured by a lien on the property.
• Each employee agrees to live in the home purchased through this program for at least five (5) years, after which the lien will be removed.

Eligibility Requirements: Employee eligibility is defined as follows:

• New Regular Full-Time Faculty at the rank of instructor or assistant professor without tenure or non-tenured immediately upon receiving a contract for the academic year.
• Regular Full-Time Faculty at the rank of instructor or assistant professor, without tenure or non-tenured.
• Regular Full-Time Staff Employees at grade level 46 or below (grade 10 or below for hospital positions) after completing the 90-day employment orientation period.