element fire department recruit eah tour
DESCRIPTION
A collaborative effort between the City of Rockford HR and Fire Department, The ELEMENT, The Great Downtown Housing Collaborative and many others promoting the City/County Employee Assisted Housing program !TRANSCRIPT
Employer Assisted Housing Effort – Fire Department Recruit Tour
Strategic Goal: Marketing and Promotion
Continue to implement marketing programs locally, regionally and nationally to create awareness of Downtown Rockford housing including but not limited to:
• Artist’s housing opportunities
•Employer Assisted Housing programs
•TIP
•TIF
•River Edge
True to these strategic goals the ELEMENT hosted the City of Rockford Employee Assisted Housing/Fire Department recruit tour…
Strategic Goal: Organizational & CollaborativeMaintain a lean, agile, flexible network organizational structure for The Element in conjunction with community stakeholders.
Support and work with the ongoing efforts of stakeholders and established organizations providing services in the Rockford Arts District.
Strategic Goal: Product DevelopmentDevelop the physical and organizational structures needed to establish Downtown Rockford as an attractive destination for creative talent to live, work and play.
Facilitate real estate development that provides the necessary infrastructure and space to achieve the mission of The Element.
January 28, 2010
How the program works…(Assumes Employee Qualifies – See HR for details)
Example 1 Example 2 Example 2
Lantow Hudson Garrison
Sale Price $139,900.00 $122,900.00 $155,900.00
Employer Assistance $ (5,000.00) $ (5,000.00) $ (5,000.00)
Employee Down Payment* $ (2,000.00) $ (8,000.00) (A) $ 3,000.00
Financed Amount $132,900.00 $109,900.00 $153,900.00
Monthly Principal/Interest Payment @ 6% $ 796.80 $ 658.91 $ 922.71
Taxes/Insurance - estimate $ 443.04 $ 393.76 $ 489.42
Total Estimated Monthly Payment - PITI $ 1,239.84 $ 1,052.67 $ 1,412.13
*Additional closing costs may apply - see a lender representative
(A) Special Tax Credit Financing offer specific to this project
Welcome….Class of 2010 Fire Department
recruits
Recruits tour Garrison Lofts
Recruits brave the cold to tour 4 properties and learn about 6 others…
Recruits tour Garrison Townhomes
Recruits tour Garrison Lofts
Recruits tour Hudson Place Condos…
Recruits tour The William Brown Lofts…
Recruits tour The Lantow Lofts…
During the bus tour other residential opportunities were viewed and discussed…
Tour concludes with lunch…During lunch recruits were surveyed about potential interests in downtown housing, living downtown and their desires to rent or buy…
The surveys show:
•43% currently own homes•36% currently rent•50% intend to make a change in residence•43% prefer to live downtown
Comments include:
•“I appreciate the incentives for moving in…”•“Good program, Hope you keep revitalizing Downtown”•“Keep up the good work with your project (LANTOW LOFTS). I think the green factor is a good selling point”•“I enjoyed the quality of construction in your buildings (ALL)… very hard to find.”
Many thanks to these individuals…
The sincerest thanks to each of these individuals for your support and effort!
Thank you!
Ron Clewer
Mayor Larry Morrissey, City of Rockford
Jessica Jones, City of Rockford
Derek Bergsten, City of Rockford
Matt Knott, City of Rockford
Andrea Hinrichs, City of Rockford
Mike Lunde, Gambino Realtors/Lantow Lofts
Brad Roos, Zion Development
Chandler Anderson, Garrison Lofts and Garrison Townhomes
Ed McCullough, The ELEMENT
Many continued thanks to our downtown housing partners…