Relocation incentives revitalizing Midtown Detroit
January 26, 2011 - One of Detroit's hardest-hit regions is receiving a beneficial boost from three large local employers, who are offering workers financial incentives to consider relocating to the neighborhood.
Detroit Medical Center, Henry Ford Health and Wayne State University are the three employers spearheading the Live Midtown program, reported the Detroit Free Press. Between them they employ more than 30,000 workers and hire thousands more each year.
Workers who buy a home in the area could receive a one-time $20,000 forgivable loan toward their home purchase or $20,000 over five years, said the report, while existing homeowners could receive a $5,000 match for funds they use on home improvements. Meanwhile, renters can also enjoy thousands in rent breaks - $2,500 for their first year and $1,000 for the second.
"The goal is to take the economic power of these anchors and use it to develop Midtown," Susan Mosey, president of the program's administrator, the University Cultural Center Association, told the paper.
Similar programs already exist in Philadelphia and Milwaukee, said Mosey, adding that she expects as many as 500 workers to apply for housing through the program.
Live Midtown's website allows those making moving plans to peruse available listings, get more details on available incentives, and learn which areas of the city are participating in the program.
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