Some Anne Arundel County employees could qualify for financial assistance from the county in paying closing costs and down payments on new homes.
County Executive Janet Owens will announce Saturday the start of the new work force housing initiative, open to employees who are first-time homeowners and who make no more than 120 percent of the county?s median income level, anywhere from $61,200 to $87,360 for a family of four.
Funding will be available beginning July 1 and will be distributed on a first-come, first-serve basis.
Owens said the sky-high home prices in the county have made it increasingly difficult for some county employees to live where they work. The county budget, approved this week, included $250,000 in one-time funding for the program.
“If this works the way we hope it works, I think the next executive and council would be hard pressed not to fund it again,” Owens said.
The $1.3 billion budget for 2007 was made possible by greater than anticipated tax revenues. But next year, the county will have to set aside funding, estimated to be at least $50 million, for future retiree health care benefits.
Council Chairman Ed Reilly said it was impossible to say whether the county will be able to commit to funding the housing program in the future.
Kathleen Koch, executive director of Arundel Community Development Services, could not say exactly how many county employees do not live in Anne Arundel County, but said median home prices in excess of $350,000 has made it hard for teachers and other first-time home buyers to afford something close to their workplace.
In addition to meeting the income requirements, applicants will also have to complete the county?s homeownership education program. Employees will be eligible for up to $10,000 in county assistance for down payments and closing costs, and may also qualify for an additional $10,000 from the Maryland Community Development Administration?s House Keys 4 Employees Program.
Anne Arundel County already provides mortgage assistance through the state for employees who make up to 80 percent of the median county income, anywhere from $40,800 to $58,250 for a family of four.
