RIT is teaming up with the City of Rochester to create home ownership opportunities for the university’s employees by providing up to $6,000 in financial incentives designed to encourage city living.
RIT has become a member of the city’s Employer Assisted Housing Initiative. As part of this program, the university and the city will each provide up to $3,000 to qualified faculty and staff toward the purchase of a primary residence in Rochester. Participants can use the funding toward a down payment and closing costs.
“It’s important to recognize that the ‘R’ in RIT stands for something—it stands for Rochester,” states RIT President Bill Destler. “This program will encourage more members of our campus community to become active stakeholders in the prosperity of Rochester while enjoying a high-quality residential experience that simply can’t be duplicated elsewhere.”
“We sincerely appreciate RIT’s participation in the Employer Assisted Housing Initiative,” says Rochester Mayor Robert Duffy. “In addition to helping RIT employees realize their dream of homeownership, this program promotes the growth and economic viability of the City of Rochester by helping to stabilize Rochester’s workforce and grow its tax base—vital elements for success.”
The Employer Assisted Housing Initiative is available to regular fulltime and extended part-time faculty and staff at RIT who do not currently own a home in the city. Participants must remain employed by RIT for at least five years following the date of closing.
Additionally, the purchase price of the home must not exceed $200,000, and participants must maintain residency in the home for no less than five years from the date of closing.
RIT limits this program to 10 employees per year and participation will be determined on a first come, first served basis. For additional information, including a complete list of qualification, visit RIT’s Human Resources Department Web site.