- Name
- Christa Durfee
- Company
- Data Research and Handling, Inc.
- E-mail
- Contact Christa Durfee (Data Research and Handling, Inc.)
- Website
- http://www.TennesseeEmployerConsortium.com
- Office Phone
- (931) 644-7838
- Cell Phone
- (731) 307-8083
- Fax
- (866) 644-7543
- Address
- 20835 Hwy 104 South, Lexington, TN, 38351
- Description
- Data Research and Handling is an administration company offering an outsourced EAH benefit plan to enrolled Tn companies.
The Tennessee Employer Consortium is dedicated to assisting in the stabilization of the Tennessee economy and real estate industry. As the Executive Director of Harvard University's Joint Center for Housing Studies said, ‘Housing has led the U.S. economy out of every recession for at least 50 years, and for that to happen more stimulus is going to be needed." The Employer Assisted Housing Fund was established to assist the enrolled Tennessee employers and their employees with down payment funds or closing cost funds equivalent to 3% of the home's purchase price. This employer support and stimulus is called employer assisted housing (EAH).
Employer Enrollment ensures the mortgage lenders that employers offering this housing assistance do so for all employees; additionally the employer will not establish a repayment plan or payroll deduction with the employee after the funds have been secured by the employee. Enrollment takes approximately 10 minutes and provides a no cost EAH 3% down payment assistance benefit to every employee with outsourced administration.
The EAH fund is established and ready to use by enrolled employers. The funds are disbursed through a Preferred Participant (PPO) Network and the structure encourages Network inclusion, expansion, preservation and growth to benefit all Tennessee employers and employees as it relates to the sale or purchase of real estate in Tennessee. The funds disbursed directly to the settlement agent on behalf of the employee are taxable compensation. Employees acknowledge the tax consequences at closing with their signature. Employees are also required to complete home buyer education and community service hours prior to compensation. The funds are used with PPO Network Participants and administered with outsourced administration services. This is a public-private housing initiative with annual public disclosure.
This housing initiative is designed as a Preferred Participant Network approach to providing affordable housing for employees in Tennessee. It provides, at no cost, the tools for Real Estate Professionals to "adopt" enrolled Tennessee Companies and offer dedicated assistance for their employees home buying needs.
Pro-Active Real Estate Agents & Builders may find value in EAH:
•· Establishing long term relationships with employers and their employees
•· Increase number of potential buyers for listings
•· Reduce Tennessee foreclosure inventories to restore market prices
•· Promote home buyer education · Promote Community Service
Tennessee Enterprise Fund
Economic Enterprise Regional Awards for Excellence in Community Initiatives
Preferred Participants enrolled into the Network provide additional support to the employers through investment in the Tennessee Enterprise Fund. This fund financially aids and allocates the funds generated by mandatory development fees, government awards, grants, and donations. Residential and non-residential developers, entities in title or title holders are sources of dedicated revenue used to expand and support the Tennessee Enterprise Fund, at the rate of $40.00 per $1,000 of home sale prices.
The Tennessee Enterprise Fund allocates awards to regional employers and organizations who exhibit excellence and outstanding efforts through programs and initiatives that improve their communities. These funds are a tremendous benefit to economic development efforts in Tennessee communities.
Some of the Economic Development Benefits:
• Enterprise Funds assist in attracting and retaining new employers to the region
• Enterprise Fund awards can assist employers with business development
• Enterprise Funds can offset the expense of economic development projects
Administration guidelines ensure that the enterprise funds benefit the communities that support Tennessee employers. To ensure that portions of the fund remain in the community, organizations may be appointed to disburse funds within their region. Organizations selected are typically located within the community and have an ongoing relationship with regional employers which allows them to identify areas of need. Pursuant to oversight requirements and annual public disclosure, the organizations must submit an annual narrative on their stewardship awards or projects.
For More Additional Infomation about this Benefit Network
or to enroll as a knowledgable Tennessee Realtor
Assisting Tennessee Employees seeking to buy a home
Please Contact:
Data Research & Handling, Inc.
20835 Highway 104 South · Lexington, TN 38351
Toll Free 800.514.7980 · Local 931.644.7838 · Fax 866-644-7543
Tninfo@DataResearchAndHandling.com
www.TennesseeEmployerConsortium.com
