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City and UMD Announce Incentive Program to Attract Employees to Live in College Park

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The College Park City-University Partnership (“CPCUP”) announced this week a new Home Ownership Program to increase the number of University of Maryland employees living in the community they work, as outlined in the University District Vision 2020.

The CPCUP Home Ownership Program offers $15,000 in down payment and closing cost assistance to full-time, benefits eligible University employees who purchase a home in College Park.

Additional home ownership incentive programs, such as the Maryland Mortgage Program or its “You’ve Earned It” initiatives, and the City of College Park’s $5,000 Home Ownership Grants, may be coupled with this program, if the homebuyer is eligible.

CPCUP thinks that this program is designed to increase homeownership in College Park, incentivizing employees of the area’s largest employer to live near work, reduce commutes, contribute to our local community both day and night, and boost our local economy. These are goals outlined in the University District Vision 2020 – a shared Vision of the City, University and Partnership for College Park to be a top 20 college town by 2020.

The program is made possible through a Community Legacy grant from Maryland’s Department of Housing and Community Development and a matching grant from the University of Maryland

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