Village of Riverdale
http://www.villageofriverdale.org/
Riverdale's Employer-Assisted Housing Program
by Chris D'Arpa, Communications Research Assistant | November 25, 2002
Riverdale rolls out employer-assisted housing program
Employer-assisted housing (EAH) is gaining momentum in the Chicago metropolitan area. Riverdale, a community of nearly 20,000 people just 23 miles south of the Loop, is the latest to offer EAH to its employees. Riverdale Mayor Zenovia Evans, co-chair of the Metropolitan Mayors Caucus Housing Task Force, has been a leader in the effort to promote EAH. Riverdale will partner with the Regional Redevelopment Corporation, a local nonprofit organization with experience in homeownership counseling and home rehabilitation. The Riverdale EAH program aims to help five employees buy homes in the Village by offering $5,000 toward down payment and closing costs. Eligible employees may access up to an additional $5,000 of state matching funds. All participating employees will benefit from credit counseling and homeownership education provided by the Regional Redevelopment Corporation.
According to Mayor Evans, EAH is a way to encourage investment in the community. "Our village does not have a residency requirement for employees," she said, "so we hope the program will encourage municipal employees to live in Riverdale. EAH is a positive incentive; a win-win situation for everyone." The Village hopes its EAH program will serve as an example for other south suburban employers.
Contact: Samantha DeKoven
Housing Associate
312.863.6021