Last week the National Association of REALTORS(r) and the US Conference of Mayors named Allentown, PA, an Ambassador City for its Hometown Heroes Program. This program creates home-ownership opportunities for police officers, firefighters and emergency personnel for the city.
The Hometown Heroes Program was created by the City of Allentown and the Lehigh Valley Association of REALTORS(r). This program aids need-based financial assistance and education to the home buyer of Allentown's public safety work force, to assist them with purchasing a principal residence within the city.
Through this program, police officers, firefighters and emergency medical personnel who qualify would be eligible for mortgage-interest or mortgage insurance buy-downs. The Hometown Heroes Program hopes to start dispersing funds in Spring of 2009.
The goal of the Hometown Heroes Program is to help attract and retain moderate-income city employees and to increase the number of those that actually live in Allentown. Only 25% of the city's workforce currently reside within the city limits.
The Ambassadors for Cities program was started in 2003 by the National Association of REALTORS(r) and the US Conference of Mayors, through its Council on the New American City. It was formed to encourage cities and the local REALTOR(r) associations into partnerships to promote affordable housing and home-ownership.
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