Housing Assistance

Live Where You Work

Live Where You Work
Grant program encourages local employees to live in the Park
Unless you enjoy sitting in rush-hour traffic for long periods of time, commuting is no fun. It's no wonder lengthy commutes are frequently mentioned as one of the least favorite parts of working. But what if you could both work and live in St. Louis Park? That's the goal of a new city program called "Live Where You Work."

Live Where You Work is an assisted home ownership program providing employees of St. Louis Park-based businesses with a grant toward the purchase of a home near their workplace.

The employer and the city provide a grant up to $2,500 for each eligible employee. Employers are invited to contribute a matching or lesser amount to the city's contribution.

Once the employee obtains a mortgage from a participating lender, the grant can be used to help finance a down payment, closing costs and gap financing. The program not only gives workers an opportunity to own a home close to their job, it increases employee loyalty, retention, and morale, and creates a positive community building environment for the homeowner and their family, the company they work for and the city. Having employees living in the community also will reduce commute times and fuel costs.

Live Where You Work also allows the city to partner with local businesses, make home ownership more affordable, revitalize neighborhoods and schools, encourage shorter commutes, and set an example for other cities. Banks participating in the program so far include Associated Bank, Bremer Bank, US Bank, Wells Fargo and Citizens Independent Bank.

The city also sees this as an opportunity to have foreclosed properties occupied by home owners. As a result, qualified buyers purchasing foreclosed properties in St. Louis Park would be eligible for an additional $1,000 grant from the city in recognition that these homes have additional maintenance needs.

For further details about this program and eligibility requirements, contact the City of St. Louis Park's Housing Supervisor, Michele Schnitker, at (952) 924-2571 or mschnitker@stlouispark.org. For a copy of the Live Where You Work brochure, please click here Brochure.If you are interested in applying for a forgivable loan call the Center for Energy & Environment (CEE) at 612-335-5891.