St. Louis Park Today Tuesday, March 24, webcast

Live Where You Work program starts

The City of St. Louis Park has launched a new assisted home ownership program that provides employees of St. Louis Park-based businesses with a grant toward the purchase of a home near their workplace.
In the Live Where You Work Program, the city provides a $2,500 for each eligible employee.
Employers are invited to contribute a matching or lesser amount to the citys contribution, but are not required to do so. Once the employee obtains a mortgage from a participating lender, the grant can be used to help finance a down payment, closing costs and gap financing.
The program not only gives workers an opportunity to own a home close to their job, it increases employee loyalty, retention, and morale, and creates a positive community building environment for the homeowner and their family, the company they work for and the city.
Having employees living in the community could also reduce commute times and fuel costs, allows the city to partner with local businesses, makes home ownership more affordable, helps revitalize neighborhoods and schools, and set an example for other cities.
Qualified buyers purchasing foreclosed properties in St. Louis Park would be eligible for an additional $1,000 grant from the city in recognition that these homes have additional maintenance needs.
In weather, theres a high today of 52 degrees and a low of 31 degrees with thunderstorms. Tomorrow theres a much lower high of 40 degrees, a low of 29 and a 30 percent chance of precipitation, possibly including snow.

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