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News March 10, 2010 Chester is giving future homeowners a reason to buy a house in the city By KATHLEEN E. CAREY kcarey@delcotimes.com CHESTER — City officials gave real estate professionals more incentive to sell Chester to shopping homebuyers at the “Homeownership in Chester” seminar Tuesday at City Hall. Two programs in particular were highlighted: the employer-directed Walk to Work program and the city’s Homeownership Assistance Program. “What we’re trying to do is continue with a program that stabilizes neighborhoods,” said John Dixon, executive director of the Institute for Economic Development. He said about a dozen people have purchased homes through the Walk to Work program in the last 18 months. How it works is participating businesses, such as Crozer-Keystone Health System, Widener University and the Chester Water Authority, agree to pay $5,000 to employees who close on a home near those workplaces. Employees must agree to live in the home and remain at work with these institutions for at least five years, or they have to return the money. The city’s Homeownership Assistance Program provides a maximum of $5,000 for closing costs and up to 50 percent of the down payment, up to $5,000, for income-qualified homebuyers. Lisa Gaffney of the Chester Economic Development Authority said the first-time homebuyer program sets income eligibility at $62,250 for a family of four. “These programs are successful,” she said. “We encourage you to use them.” She added that they could be combined with the $8,000 federal tax credit for homebuyers who obtain an agreement of sale through the end of April. “This is an opportunity for people to move up the economic ladder,” Gaffney said. And, she mentioned, home sales in Chester have been doing well. “Even though everyone is complaining about the economy, we’ve seen an uptick in buying and selling in the city,” Gaffney added. Officials from Crozer-Keystone Health System and Widener University also lauded Walk to Work. “Our goal is to get more people to come and stay with us at the university and the community,” George Hassel of Widener University said. He said about 15 people have expressed interest in it since it started July 1, 2008, and three people have settled. He added that the goal has been to have five participants annually. Susan Winkles of Crozer-Keystone Health System said 400 of its 68,000 employees already live in Chester. She added that six have received the $5,000 and another two are planning to settle in March, with more interested. “We are excited that it is picking up,” she said. Hassel added, “As time goes by, I think more people will be interested in it. You cannot get a better home for the dollar in this immediate area.” He gave the example of a professor who was deciding between Chester and Media for a hometown and, through Walk to Work, chose Chester.

News
March 10, 2010

Chester is giving future homeowners a reason to buy a house in the city
By KATHLEEN E. CAREY
kcarey@delcotimes.com

CHESTER — City officials gave real estate professionals more incentive to sell Chester to shopping homebuyers at the “Homeownership in Chester” seminar Tuesday at City Hall.

Two programs in particular were highlighted: the employer-directed Walk to Work program and the city’s Homeownership Assistance Program.

“What we’re trying to do is continue with a program that stabilizes neighborhoods,” said John Dixon, executive director of the Institute for Economic Development.

He said about a dozen people have purchased homes through the Walk to Work program in the last 18 months. How it works is participating businesses, such as Crozer-Keystone Health System, Widener University and the Chester Water Authority, agree to pay $5,000 to employees who close on a home near those workplaces.

Employees must agree to live in the home and remain at work with these institutions for at least five years, or they have to return the money.

The city’s Homeownership Assistance Program provides a maximum of $5,000 for closing costs and up to 50 percent of the down payment, up to $5,000, for income-qualified homebuyers.

Lisa Gaffney of the Chester Economic Development Authority said the first-time homebuyer program sets income eligibility at $62,250 for a family of four.

“These programs are successful,” she said. “We encourage you to use them.”

She added that they could be combined with the $8,000 federal tax credit for homebuyers who obtain an agreement of sale through the end of April.

“This is an opportunity for people to move up the economic ladder,” Gaffney said.

And, she mentioned, home sales in Chester have been doing well.

“Even though everyone is complaining about the economy, we’ve seen an uptick in buying and selling in the city,” Gaffney added.

Officials from Crozer-Keystone Health System and Widener University also lauded Walk to Work.

“Our goal is to get more people to come and stay with us at the university and the community,” George Hassel of Widener University said.

He said about 15 people have expressed interest in it since it started July 1, 2008, and three people have settled. He added that the goal has been to have five participants annually.

Susan Winkles of Crozer-Keystone Health System said 400 of its 68,000 employees already live in Chester.

She added that six have received the $5,000 and another two are planning to settle in March, with more interested.

“We are excited that it is picking up,” she said.

Hassel added, “As time goes by, I think more people will be interested in it. You cannot get a better home for the dollar in this immediate area.”

He gave the example of a professor who was deciding between Chester and Media for a hometown and, through Walk to Work, chose Chester.