City Council Proclamation Honors Springfield College for Helping Workers Purchase Homes in State Street AreaApril 30, 2008
SPRINGFIELD, Mass., April 30, 2008 – The Springfield City Council issued a proclamation at its April 28, 2008 meeting commending Springfield College, along with American International College, Baystate Health, and MassMutual, for offering subsidies to their employees who become first-time home buyers in a new program that also qualifies them for state matching funds.
With the Springfield College Housing Assistance Program and state matching funds, qualified Springfield College first-time home buyers will each receive a total of $10,000 toward the purchase of their homes in the State Street redevelopment area. For several years, the college has offered subsidies to employees purchasing homes in the Old Hill and Upper Hill neighborhoods that surround its campus.
Responding to the proclamation, Springfield College Director of Community Relations Brendan Neal said, “Springfield College is honored by this recognition from the Springfield City Council. It has been a pleasure to collaborate with the State Street Alliance toward our mutual goal of improving this historic area near our campus. With the college’s housing assistance program and state matching funds, our employees will have access to affordable housing in a neighborhood being revitalized as a secure, stable, desirable place in which to live.”
State matching funds will be five-year loans, with 20 percent of the initial amount forgiven for each year. Employees of participating companies in good standing with annual incomes of not more than $68,000 are eligible.
The proclamation also cited Springfield Neighborhood Housing Services, which administers the state program, and former Springfield School Committeeman Nicholas Fyntrilakis, for his leadership and coordination.