Expanding Partnerships
Employer Assisted Housing
Employer Assisted Housing
Issues/Opportunities Addressed:
Timeframe for Action: Long Term
Employer-assisted housing programs provide an
option for employers to help their employees with the
cost of owning or renting a home. Programs can be
targeted to neighborhoods near where employees
work. Assistance may be provided in a variety of
ways, including down payments that are forgiven
over a period of employment, education and
counseling around homeownership, rental subsidies,
or even a direct investment in the housing
development itself.
The program could be created for public-sector
employees working for the City, but often it is created
by and for the private sector. These programs are
most successful in communities that have one or
more large employers with employees who struggle
to find housing that matches their income. The City
of Nashua could be a partner in a program like this
by providing a matching contribution to any housing
subsidy payment offered by the employer.
The City should begin conversations with major
employers, like the hospitals, to gauge interest in
partnering over time on an employer assisted
housing program.
Nashua Housing Study - 79
As conversations begin with employers about
creating and contributing to an employer
assisted housing program, the City may want to
consider the following steps to organize both the
conversation and the strategy:
1. Evaluate the Housing Needs of Employees
through Studies, Surveys, and Focus Groups
2. Examine the Employers Participation Options
3. Assess the Availability of Housing Options
4. Determine the Best Strategy Going Forward
The Greater Minnesota Housing Fund put
together an excellent guide for both employers
and communities that are looking to start
conversations around an employer assisted
housing program. The guide includes a primer on
programs, examples, lessons learned, FAQs, and
how to make the case for a program.
Source: EAH Guidebook
Case Study — University of Chicago, Chicago,
The Employer-Assisted Housing Program assists full-time
benefits-eligible University of Chicago and University of
Chicago Medicine employees with their home purchase in
the neighboring communities. The program provides up to
$10,000 in down payment assistance. Rental
reimbursement up to $2,400 is also available for new
renters in portions of nearby neighborhoods. Through this
program, the University strengthens its connections to
surrounding neighborhoods, retains valuable employees,
and helps staff optimize their work-life balance. Income
restrictions do apply to households earning over a certain
amount.
ASSOCIATES INC
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