The Butler Area School District is considering a policy that would incentivize home ownership within the district for employees.
Superintendent Dr. Brian White presented the board with a draft of the policy during a meeting of the board’s Committee of the Whole.
The Employee Homeownership Assistance Program would operate in a similar way to the district’s current Tuition Assistance Program in that the district would offer several thousand dollars towards a downpayment or closing costs. The loan would then be forgiven by 10% per year as long as the employee continued to live at the home. Participants who choose to leave the residence or cease employment with the district before the balance is forgiven would be required to complete repayment.
The school board could choose to set a cap on the total amount available to employees applying to the program. District administrators also hope that municipal governments within the district partner with them to offer additional matching funds.
White plans to inform the Butler City Land Bank of the board’s consideration during a meeting of the Land Bank planned for today.
