As part of its successful Go Local initiative, and to strengthen economic inclusion and development throughout Central New York, Syracuse University today announced it will expand an existing home ownership program and offer a new education incentive to local health care workers.
“We know that for many in our community the path to economic prosperity and financial independence includes a comfortable home and continued opportunities to grow professionally,” says J. Michael Haynie, vice chancellor for strategic initiatives and innovation. “These two initiatives represent the University’s latest effort to support and build a stronger, more inclusive local economy.”
Syracuse University first launched Go Local in 2019 with a commitment to leverage the power of the University to broaden the participation of local residents, underrepresented communities, women and veterans in building projects and contracting and in employment opportunities; increase economic growth through the University’s purchasing activities; and help sustain the growth of businesses in the community. Earlier this year, as part of Go Local, the University hosted a Career and Vendor Fair at the Oncenter Convention Center that helped create and strengthen relationships between local business owners and purchasing managers at the University and enhance awareness of job opportunities open to residents.
Making Home Ownership Possible
The newly expanded Live Local initiative extends the boundaries of the University’s home ownership assistance program and creates the University-area Home Ownership Program. Live Local expands eligibility for home ownership into neighborhoods to the west of the University Hill area, acknowledging the impact of the removal of the Interstate 81 viaduct.
“This is an important investment in our city, our people, our community and our economy,” says Cydney Johnson, vice president of community engagement and government relations. “By shifting and expanding boundaries, we are opening up new opportunities for more individuals to afford to buy homes.”
In partnership with Solvay Bank, the University will offer employees mortgage loans up to 100% of the purchase price. Those employees will also receive Solvay Bank’s best interest rate and will not have to purchase additional mortgage insurance. Further, program participants will be eligible to receive a forgivable home improvement loan valued at 10% of the purchase price of the home, up to $15,000.
Christopher Dunham, president of the University Neighborhood Preservation Association, says, “Syracuse University’s plan to provide enhanced homebuyer incentives to its employees demonstrates a commitment to its surrounding neighborhoods and complements the work that UNPA does to promote homeownership in our area. We expect the University’s investment will mean that more people will choose to make our neighborhood theirs, to live, to work and to share in a vibrant and welcoming community.”
Eligibility for the new program remains the same as eligibility for the long-established Guaranteed Mortgage Program provided through Empower Federal Credit Union, Summit Federal Credit Union and Tompkins Trust Company:
- All regular full-time and part-time faculty and staff may participate.
- One- and two-family homes, townhouses and condominiums are eligible.
- The property must be owner-occupied.
More information about the new mortgage guarantee program is available on the Office of Real Estate’s website. Interested employees are encouraged to email realestate@syr.edu to begin the process of purchasing a home through the Live Local Program.
New Support for Health Care Workers
Also part of the Go Local initiative, Learn Local is now offering a tuition grant that expands opportunities for part-time, online undergraduate degrees and certificates to health care workers throughout the region.
“The tuition grant is designed to meet the education and career-readiness needs of the local health care community by ensuring that residents have access to market-sensitive and industry-informed degrees and professional certificates,” says Michael Frasciello, dean of the College of Professional Studies. “During these last few years, we were reminded how critical our health care workers are to the well-being of the entire community. We want to support them and strengthen their ranks.”
The Health Care Worker Grant is a tuition discount open to all full-time, part-time and per diem employees of Crouse Health System (including Crouse Hospital and Crouse Medical Practice), SUNY Upstate Medical University, St. Joseph’s Health Hospital, Veteran Administration Syracuse Health Care System, KPH Healthcare Services Inc. (Kinney Drugs), and Loretto. The tuition rate will be $350 per credit hour, and an 89% discount on the full-time tuition rate.
“The continued growth and development of career pathways for our employees at Loretto is a top priority and programs like this make it affordable for our staff to pursue advanced degrees,” says Dr. Kimberly Townsend, president and CEO of Loretto. “We’re excited to make this opportunity available to our employees to take advantage of the great programs right in our own community. Career advancement is key to keeping and growing the healthcare workforce needed today and into the future.”
The tuition discount applies to Syracuse University online undergraduate degrees and undergraduate certificates in the College of Professional Studies. Current undergraduate bachelor’s degrees include health care administration, applied data and predictive analytics (data science), business management, computer programming, creative leadership, cybersecurity administration, knowledge management, policy studies, and liberal studies. An associate of arts in liberal arts is also available.
Health care workers interested in the grant and learning more about Syracuse University’s online undergraduate degrees and certificates should contact the College of Professional Studies at 315.443.9378 (Toll Free: 1.866.498.9378) or parttime@syr.edu.
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September 15, 2022 at 06:26AM
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Syracuse University Expands Go Local Initiative, Creates New Pathways to Home Ownership and Education - Syracuse University News
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