Tulsa Home Ownership Program a Model for the Nation
Mayor Kathy Taylor this week highlighted the creation and success of Tulsa’s Workforce Home Benefit in a presentation to residents of Milwaukee, Wis., during a home ownership symposium. The Workforce Home Benefit initiative, a City driven home ownership assistance program, is recognized as a national model and U.S. Housing and Urban Development (HUD) case study.
The Workforce Home Benefit pilot was launched in June 2005, in partnership with City of Tulsa, BOK Financial, Tulsa Public Schools, and QuikTrip. It has since expanded to other local employers and is open to 22,000 employees.
The program focused on breaking the renter-oriented cycle and assisting employees with down payments and closing costs through the federal loan program, Freddie Mac.
Since the beginning of 2007, 167 Tulsa families have purchased their own homes through the program, at prices ranging between $110,000 and $140,000.
Employers interested in this model program may contact the Mayor's Action Center at 596-2100.