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City of Philadelphia’s Employer-Assisted Housing Program

City of Philadelphia’s Employer-Assisted Housing Program. Philadelphia Home•Buy•Now Overview. Philadelphia Home•Buy•Now assists Philadelphia employers recruit and retain valuable employees by helping these employees become homeowners.

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City of Philadelphia’s Employer-Assisted Housing Program

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  1. City of Philadelphia’sEmployer-Assisted Housing Program

  2. Philadelphia Home•Buy•Now Overview • Philadelphia Home•Buy•Now assists Philadelphia employers recruit and retain valuable employees by helping these employees become homeowners. • Through this program, employers can make financial contributions toward their employees’ down payment and closing costs • Employees can also receive homebuyer training, counseling, home inspections and convenient access to home-improvement loan programs as a part of the benefits package. • The employers’ contribution are matched by the City up to $5,000.

  3. Program Performance Snapshot • 36 local employers participate in Home•Buy•Now • From 2004-Present: • 220 grants totaling $724,888 have been distributed by the City of Philadelphia • Employers have contributed $808,986

  4. AgustaWestland Chick’s Café and Wine Bar Citizens Bank Cardone Industries eXude Benefits Group Fannie Mae Gypsy Lane Technology Law Office of Elaine Smith Mallard Mechanical Martin Banks Pond Lehocky & Wilson The Neat Co. Nochumson PC P. Agnes, Inc Re:Vision Architecture Seder Physical Therapy Tommy D’s Home Improvement Westin Hotel Home•Buy•Now Participating Employers For Profit Employers (17)

  5. Home•Buy•Now Participating Employers • African American Chamber of Commerce • Energy Coordinating Agency • Episcopal Community Services • Germantown Friends School • Greater Philadelphia Urban Affairs Coalition • Horizon House • Keystone Mercy Health Plan • NewCourtland Elder Services • People’s Emergency Center • Philadelphia Workforce Development Corporation • Philadelphia Housing Authority • PhillyCarShare • Saint Joseph’s University • Special People in Northeast, Inc. • Studio Incamminati • Temple University • University City District • University of Pennsylvania • University of the Sciences Nonprofit Employers (19)

  6. Home•Buy•Now Performance Statistics

  7. Buyer Profile by Income Low- and Moderate- income individuals comprise a majority of the buyers in Home•Buy•Now

  8. Income and Purchase Price

  9. Contact • Jim FlahertySenior Manager, Economic Development InitiativesCommerce DepartmentPhone: 215-683-2126E-mail: jim.flaherty@phila.gov • Dr. Lucy Kerman Vice President, Policy and Planning Greater Philadelphia Urban Affairs Coalition Phone: 215-851-1915 E-mail: lkerman@gpuac.org

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