Case Study: St. Louis Park Homeownership Program
The St. Louis Park “Live Where You Work Home Ownership Program” provides eligible employees of St. Louis Park businesses with a $2,500 forgivable, deferred loan towards the purchase of a home within the city. Employers are encouraged to make a matching contribution towards these loans.
The program not only offers an employee an opportunity to live near their workplace, but it also provides an opportunity to enhance relationships in the community, make homeownership more affordable and to help revitalize neighborhoods and schools. Homebuyers will also benefit from reduced commute times and travel expenses.