Getting started

The Metropolitan Planning Council, Housing Action Illinois, and local REACH Illinois partners make it easy to start an employer-assisted housing program.

Internal analysis

  1. Together, the employer, REACH Illinois partner, and MPC/Housing Action evaluate the employer's needs and goals for the program.
  2. When needed, the employer implements an employee housing survey to gauge employee interest and ascertain the appropriate size of the program. MPC and Housing Action have a survey template and can help the employer analyze results.
  3. Housing Action/MPC provide a proposal for the employer to conduct a preliminary cost-benefit analysis and determine the right budget for the program.

Program design

Housing Action or Metropolitan Planning Council work with the employer and REACH Illinois partner to design a program that fits the needs and objectives of the organization. Some program goals might include:

  • Relocating and/or recruiting new employees. 
  • Reducing turnover among targeted classes of employees.
  • Reducing employee commute times to decrease tardiness and absenteeism and improve employee morale.
  • Revitalizing surrounding neighborhoods.
  • Increasing employee homeownership and workforce stability.

The criteria for employees to participate in the program are shaped by these objectives. Eligibility requirements to be determined by the employer may include:

  • Length of time the employee has been with the company.
  • Employee/household income limit.
  • Employee is first-time home buyer.
  • Location of home to be purchased is either within specific neighborhoods or a certain distance of the work place.
  • Personal resources that will be invested (such as percentage or fixed amount of purchase price or shared counseling costs).

Other program options are:

  • Amount and type of financial assistance (down payment assistance, rental assistance, security deposits).
  • The rate at which loans are forgiven.

Agreements

All parties involved in the program- the employer, REACH Illinois partner, and Housing Action/MPC- will sign a memorandum of understanding (MOU) that outlines each party's respective roles and responsibilities. The MOU is usually set up to expire after two years, but it can be terminated at any time by the employer.

Launch

Once the MOU has been signed, and systems are in place, the program can be launched. Launching can be as simple as making an announcement to all employees, but it often helps if a counselor is on site to promote the benefit and answer questions about it. Housing Action /MPC work with the housing counseling agency and employer to implement an appropriate strategy.

Possible ways to announce a new program to employees include providing information via newsletter, e-mail, or brochure, or hosting an informational meeting.

Implementation, evaluation and administration

The EAH program is fully implemented by the nonprofit REACH Illinois housing counseling agencies. They provide homebuying counseling to employees, administer the down payment or rental assistance, help employees access additional resources, and submit tax credit applications on behalf of the employers. The Metropolitan Planning Council and Housing Action Illinois provide technical assistance throughout the process, review and evaluate each program, and make recommendations to support the success and expansion of the program.