City Staff Ideas Challenge
#nycspeaks2022 Share your ideas for bold actions the Mayor should take
Semi-finalists selected 05-02-2022 - ?Process phases
Low Interest Rate Mortgage Exclusively for NYC Employees
NYC employees should be able to afford and purchase property in NYC. For our public service we should be eligible for a low interest rate mortgage with forgiveable downpayment assistance after a becoming vested.
List of Endorsements
and 65 more people (see more) (see less)
Version number 1 (of 1) see other versions
Report inappropriate content
Is this content inappropriate?
Super important idea. Need to encourage city workers to live in the city. If I live in the city that's when I would care about the neighborhood, crimes and all other negative issues. An this is the only time someone would genuinely care about to think of a realistic solution. Need to encourage city workers to be part of the city.
For the low salaries we get paid compared to the private sector, it is impossible to afford a home in NYC (which is a residency requirement for city workers) on the salary we get paid. There are no incentives to live in NYC when you get paid well below the average in private sector and cant afford a home in this market.
Conversation with sheila
There should also be an additional 10% down payment assistance for city employees as well as reduced mortgage rates. At this point, salaries do not cover rent and transportation. Living paycheck to paycheck does not allow one to save enough for a down payment, emergency fund, retirement, etc.
We do not leave from paycheck to paycheck. We are underliving actually. Borrow against next week when you get paid and return to your lender. Only grace period we have is when we get paid 3x in a month.
There used to be Home buying programs targeting City employees, offering assistance with down payments, giving 1st dibs on new developments etc... Atlantic Yard development was one, when they were seeking support they promoted homeownership for City workers.... I signed up over 20 years to purchase a "townhouse" ... never heard anything! We work in a city that we can barely afford to live in. Revamp such programs that really take into consideration the salaries of civil servants and promote home ownership as a benefit to working for the City!
All city employees income varies. I think this is a great idea having something that belongs to just us.Some of these new landscaping high or low risers should only be for City employees. Lottery the apts between incomes this way no one is left out regardless of incomes. And regardless of credit you work you got in.
It is somewhat fantastic, and yet check out the advice at this treat. Measurementstuff
Below you will understand what is important, the idea provides one of the links with an exciting site: singapore self improvement
On this page, you'll see my profile, please read this information. audio-estudios.com
Cool you write, the information is very good and interesting, I'll give you a link to my site. https://topflightbirds.com/
Cool you write, the information is very good and interesting, I'll give you a link to my site. https://befunky.in
Add your comment
Sign in with your account or sign up to add your comment.
Loading comments ...