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Economy

New Kettering program helps employees buy homes in Flint

house in Flint
Sarah Razak
/
Creative Commons http://michrad.io/1LXrdJM

Kettering University wants to help faculty and staff members buy houses in Flint.

The university's Employee Home Purchase and Renovation Assistance program will give eligible employees forgivable $15,000 loans to buy and live in homes near campus.

The program's designated neighborhoods are Mott Park, Glendale Hills, and Carriage Town.

Employees who already own homes in those neighborhoods are eligible for $5,000 forgivable loans to fix up their property.

If borrowers adhere to specific requirements, they don't have to repay the loan.

Kettering President Bob McMahan said the school will also help employees make sure houses are safe and meet water safety standards.

“The residents of Flint are strong and resilient, and this is a critical time in our city’s history,” McMahan said in a statement. “We at Kettering are committed – through our actions and confidence in the city and its future – to being a leading partner for Flint as the city creates a new narrative of recovery, renewal and reinvention.”

McMahan said Kettering has about 500 employees. 

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