newstranscript.gmnews.com/news/2010-06-09/Front_Page/Program_encourages_ownership_of_a_home.htmlProgram encourages ownership of a home
Freehold Borough gains certification for Live Where You Work
BY CLARE MARIE CELANO Staff Writer
Buying a home in today’s economy is a difficult task, but prospective homebuyers may now have a better chance of acquiring one in Freehold Borough.
Freehold Borough officials joined representatives of the New Jersey Housing and Mortgage Finance Agency at Borough Hall on May 26 to announce that Freehold Borough is the newest member of the Live Where You Work program.
The program offers incentives to homebuyers who will live and work in a participating municipality.
Ed Collins, coordinator of the Live Where You Work program, said Freehold Borough is the 31st New Jersey municipality in the initiative. He said the program offers mortgage incentives such as low interest loans and greater flexibility in qualifications for applicants.
Freehold Borough Councilman George Schnurr said that at present, a prospective homebuyer must be a first-time buyer to be eligible for the program.
“This program will strengthen our neighborhoods, increase community involvement and attract individuals who want to live and work in the same town,” Schnurr said. “It will also help to develop positive relationships between Freehold Borough and members of the local business community.”
Schnurr said Borough Council President Jaye Sims has coordinated the employer outreach portion of the program that has been developed for the business community in Freehold Borough to educate business owners about Live Where You Work.
“We have already identified 15 large employers in town and Jaye will be working with community and business leaders to spread the word about the Live Where You Work program,” Schnurr said.
Sims said he is hoping that all employers take advantage of the program to attract homebuyers to Freehold Borough.
Schnurr said that as part of the Live Where You Work program, Freehold Borough is required to create a housing fair at which real estate professionals and representatives of approved lending institutions can explain the program to the public.
He said Councilman John Newman will be handling this task.
Schnurr said he was introduced to the Live Where You Work program by Neptune Township Committeeman Randy Bishop, who also made some remarks at the May 26 press conference.
Bishop addressed those on hand, asking, “What does it mean to be a part of the Live Where You Work program? They know you and you know them. This program brings communities together. It builds stronger neighborhoods and helps to connect with local businesses. Communities start to develop again. The program is an incredible tool.”
Bishop said that in the past, prospective homebuyers would come to Neptune Township and say, “This is too expensive,” or they would find something else that is not right about the area.
“People are now considering us as they have not done in the past because they are looking at the Live Where You Work program we have here,” he said.
Bishop said the program is a win-win situation on many levels. The program helps to attract people to Neptune Township and it helps employers and real estate agents as well.
Schnurr said that because of the rough economy, the Live Where You Work program is prompting officials from different towns to talk with one another.
“Freehold Borough is networking with other municipalities throughout Monmouth County and the state. At times, the answers to vexing problems can be found outside our borders,” Schnurr said.
State Assemblywoman Caroline Casagrande (R-Monmouth and Mercer) offered the Legislature’s support and congratulated Schnurr and Sims for their innovative thinking, which she said is going to lead to a stronger community.
“Freehold Borough and the downtown are the heartbeat of western Monmouth County. It is the center of the legal community and many professionals live and work here. This program will aggressively attract more professionals to live and work here,” she said.
Bishop said he is “the biggest cheerleader” for the Live Where You Work program.
“It helps to pull your town together and it shows that you are dedicated to promoting it,” he said. “It also shows that you believe in your town and this may be more important than anything.”
