A new employer-assisted housing program
October 26, 2007 -- In response to the growing housing crisis on Cape Cod, the Housing Assistance Corporation and Citizens’ Housing and Planning Association have joined forces with local and state government, civic groups and local business leaders in a new community action campaign called home@last.
The campaign will provide tools to garner support for the creation of more housing choices on Cape Cod, offer programs for employers that can help maintain the workforce and use community outreach in several towns to educate residents.
Most significantly, the initiative seeds a pilot employer-assisted housing program that provides state matching funds to support both rents and down payments for a modest number of young families and workers on the Cape.
“People who grew up on Cape Cod can no longer afford to live here. Young families and workers are being forced out, threatening the economic sustainability of the region,” said Aaron Gornstein, executive director of CHAPA. “It is the shared responsibility of employers, officials, and all other residents to ensure members of the workforce can afford to remain on the Cape.”
The affordable housing crisis is “no more acute than on the Cape,” said Daniel O’Connell, state secretary of the executive office of housing and economic development.
The home@last campaign will feature the state’s first regional employer-assisted housing program, the Cape Cod Employer Assisted Housing Program, which will leverage state funds with a one-to-one match from local employers and be administered by HAC. The program will provide financial assistance to local employees in need of aide for apartment rentals or home purchases.
“Investing in the Employer Assisted Housing Program will enable employers to offer a direct benefit to their employees, leverage a new recruitment tool, create a more stable workforce, and invest in the future of our community and our economy,” said Rick Presby, CEO of HAC. “Both large and small businesses can participate in this campaign by acting as advocates for workforce housing, supporting zoning changes, participating in low-cost housing education programs for employees.”
Among companies and organizations offering up matching funds are Cape Cod Five Cents Savings Bank, Shepley Lumber, the Cape Cod Times, Cape Cod Healthcare, Cape Cod Potato Chips, Cape Cod Restaurants, Wise Living and the Town of Barnstable.
Based on this initial private investment, O’Donnell said, “I will find additional state funds to expand this program. It is the best example we have to show the rest of the state” what the program can accomplish.
The home@last campaign on the Cape also provides:
• Toolkits for municipal leaders and concerned citizens that identifies small changes to local zoning laws that can help address the shortage of workforce housing;
• Checklist that supports smart development of workforce housing; and
• Easy actions all Cape Cod residents can take to ensure the region maintains the workforce populations that are vital to our communities and way of life.
FAQ – The Cape Cod Employer Assisted Housing Program
What?
The Cape Cod Employer Assisted Housing Program, the first regional assisted housing program in the state of Massachusetts, was created to lessen the financial burden of the individuals who work and live on the Cape. State and county government, major employers, non-profit organizations, and civic groups are collaborating to implement the program and create a community where everyone has a safe, stable, and sufficient place to live.
Why?
Rising housing costs jeopardize the economic sustainability of Cape Cod. People who grew up on Cape Cod can no longer afford to live here, forcing many young families to leave and deterring new talent from moving in. Across the region, businesses struggle to attract and retain employees.
By investing in the Employer Assisted Housing Program, employers can offer a direct benefit to employees, leverage a new recruitment tool, create a more stable workforce, and invest in the future of our communities and our economy.
How?
The Patrick administration pledged $250,000 in state resources to match funds offered by businesses on Cape Cod to set up the region-wide Employer Assisted Housing Program. The Program will leverage state funds with a one-to-one match from local employers (for a collective $500,000) and will be administered by the Housing Assistance Corporation (HAC).
Tenants can use up to $5,000 to pay for first and last month rents and security deposits. Homebuyers can use up to $10,000 for down-payment assistance, for closing costs, to write down an interest rate or to do credit repair. It is estimated that 50 to 75 households will be served in the pilot program.
Who?
HAC will administer the Employer Assisted Housing Program. In cooperation with Citizens’ Housing and Planning Association (CHAPA), HAC has also initiated a Cape-wide community action campaign entitled home@last to engage businesses, municipalities and Cape residents to work towards creating a community where everyone has a safe, stable and decent place to live. For more information, contact workforcehousing@haconcapecod.org or visit www.haconcapecod.org/home-at-last.
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