1. Economic Development Through Public / Private Partnerships
Retaining and Recruiting Qualified Employees

2. The Long Island Housing Partnership Mission
To provide affordable housing opportunities to those who, through the ordinary marketplace, would be unable to secure decent and safe homes. LIHP accomplishes this through development, technical assistance, education and advocacy.

3. Government Participation through grants
Federal “HOME” Funds through Nassau & Suffolk Counties
New York State Affordable Housing Corporation (AHC) Grant
Special $25,000,000 Allocation “HELP” from State Senate Delegation members
Joint NFP & Government Program Administration
LIHP administers
Nassau County “HOME” funds
New York State Affordable Housing Corporation Funds
New York State Senate “HELP”
Suffolk County administers its own “HOME” funds

4. Employer misconceptions
Too costly
Only costs to employer are the matching grant funds
Very limited administration costs
Too complicated
Employee education for programs handles by LIHP
Counseling for homebuyer education done at no cost by LIHP
Time Consuming
LIHP handles all employee calls, questions and concerns
Administrative drain
LIHP administers the program after employer qualifies the employee up to the closing and rehab of the home

5. Goals of a successful program
Retain qualified employees
Recruit new employees
Improve employee moral
Improve corporate image

6. Benefits to the Company
Retain competitive edge
Reduce employee turnover
Save on hiring costs
Save on training costs
Increase loyalty
Improve employee morale
Increase worker performance
“Great Place to Work” Company branding

7. Suggested Housing Benefit Program Guidelines
Longevity / attendance requirement:
Employee must have 1(any #) year of service in “good standing” (absences, yearly reviews, etc.)
Category of employee:
Select category of employees (full time or part time) be sure the category is non-discriminatory
Grant availability:
Employer can limit grants to any number per year (allows budgeting impact calculations)
Employee requirements:
Qualifies employees for their requirements before requesting inclusion in the program
Repayment of grant after X years if separated

8. Sample Housing Benefit Program
XYZ Company Housing Benefit Program
Full time employees who have 1 year of employment are eligible for XYZ’s benefit and will receive $5,000 (net) in a down payment assistance grant.
Full time employees who have 3 years of employment are eligible for XYZ’s benefit and will receive $7,500 (net) in a down payment assistance grant.
Full time employees who have 5 years of employment are eligible for XYZ’s benefit and will receive $10,000 (net) in a down payment assistance grant.
Employees must qualify under the income guidelines of the program
Employees must purchase a home on Long Island (Nassau or Suffolk County)
The home must be their primary residence
Employees must remain an XYZ’s employee for at least 3 years or the grant must be repaid in full
Employees will be considered for the yearly grant on a first-come first serve basis
The grant funds will be distributed to the employee at the closing

9. Layering Subsidies Guidelines
Nassau / Suffolk HOME $ New York State AHC $
New York State Senate Majority Delegation “HELP” $
Employee income
(2010 HUD AMI family of 4)
Up to 80% AMI
($82,900)
Up to 120% AMI
($124,300)
Up to 130% AMI
($134,700)
Employer “NET” Contribution
Minimum $3,000
1-49 employees $ 3,000
50 + employees $ 5,000
(Maximum of $10,000)
Maximum Home Prices
(Varies by jurisdiction)
Nassau $446,500
Suffolk $380,000
$425,000*
*Including rehab amount
$410,000
Type of Home
(Must be Principal Residence, no rental unit allowed)
New and pre-existing
Single family, Condos,
Co-ops and Manufactured
NO New – Only pre-existing
Grant Assistance
$12,000
$5,000
3X employer contribution
First-time Homebuyer Limit No
Asset Test / Min. % of Income
Yes/Yes
No/No
Homebuyer Counseling
Yes
Rehabilitation grant
-0-
$15,000
$20,000
Terms of grant forgiveness
5 years
10 years
Minimum Employee funds
$3,000

10. Nassau / Suffolk
HUD Income Limits
Updated – June 27, 2011
Median Income
HOUSEHOLD SIZE
30%
50%
60%
80%
100%
120%
130% 1 2 3 4 5 6 7 8
$ 22,300
$ 37,150
$ 44,550
$ 59,400
$ 74,250
$ 89,100
$ 96,550
$ 25,500
$ 42,450
$ 50,900
$ 67,900
$ 84,900
$101,850
$110,350
$ 28,700
$ 47,750
$ 57,300
$ 76,400
$ 95,500
$114,600
$124,150
$ 31,850
$ 53,050
$ 63,650
$106,100
$127,300
$137,950
$ 34,400
$ 68,750
$ 91,700
$137,500
$149,000
$ 36,950
$ 61,550
$ 73,850
$ 98,500
$123,100
$147,700
$160,000
$ 39,500
$ 65,800
$ 78,950
$105,300
$131,550
$157,900
$171,050
$ 42,050
$ 70,050
$ 84,000
$112,000
$140,050
$168,050
$182,050

11. How it works for the different income groups with a $3,000 employer grant:
Household Income
80 % AMI
120% AMI
130% AMI
Employer Grant
$3,000
Federal HOME $$
$12,000
Not eligible
New York State AHC $$
$5,000
NYS “HELP” $$ (3x $3k)
$9,000
Total Down Payment $$
$29,000
$17,000
NYS Rehab $$
$15,000
“HELP” Rehab $$
$20,000
Total Rehab $$
$35,000
Total Assistance
$64,000
$52,000
$32,000

12. How it works for the different income groups with a $5,000 employer grant:
Household Income
80 % AMI
120% AMI
130% AMI
Employer Grant
$5,000
Federal HOME $$
$12,000
Not eligible
New York State AHC $$
NYS “HELP” $$ (3x $5k)
$15,000
Total Down Payment $$
$37,000
$25,000
$20,000
NYS Rehab $$
“HELP” Rehab $$
Total Rehab $$
$35,000
Total Assistance
$72,000
$60,000
$40,000

13. How it works for the different income groups with a $7,500 employer grant:
Household Income
80 % AMI
120% AMI
130% AMI
Employer Grant
$7,500
Federal HOME $$
$12,000
Not eligible
New York State AHC $$
$5,000
NYS “HELP” $$ (3x $5k)
$22,500
Total Down Payment $$
$47,000
$35,000
$30,000
NYS Rehab $$
$15,000
“HELP” Rehab $$
$20,000
Total Rehab $$
Total Assistance
$82,000
$70,000
$50,000

14. How it works for the different income groups with a $10,000 employer grant:
Household Income
80 % AMI
120% AMI
130% AMI
Employer Grant
$10,000
Federal HOME $$
$12,000
Not eligible
New York State AHC $$
$5,000
NYS “HELP” $$ (3x $10k)
$30,000
Total Down Payment $$
$57,000
$45,000
$40,000
NYS Rehab $$
$15,000
“HELP” Rehab $$
$20,000
Total Rehab $$
$35,000
Total Assistance
$92,000
$80,000
$60,000

15. Long Island Housing Partnership’s EAH Program
Over $12 million awarded in grants
Over $1.5 million in employer matching grants
Over $100 million in home mortgages generated
Over 330 employees assisted
Over 130 employers with from 3 to 22,600 employees
Large Multinationals
Northrop Grumman
BAE Systems
Brookhaven National Laboratory
Unions, Not-For-Profits & Hospitals
Local 25 IBEW
Nassau County Coalition Against Domestic Violence
North Shore LIJ Hospital System (LI largest Employer)
Universities
Adelphi University
Stony Brook University
Hofstra University
Financial Institutions
Bethpage Federal Credit Union
Bridgehampton National Bank
Citizens Bank RBS (Long Island)
Small Entrepreneurs, Professionals
Starlite Auto Body Inc.
Kandall Farnworth & Pubins CPA's PC
Powerhouse Gym of Lindenhurst
Summary
Productive Economic Development Tool
Successful Public/Private Partnership