1. CITY OF PHILADELPHIA’S EMPLOYER-ASSISTED HOUSING PROGRAM

2. Philadelphia HomeBuyNow Overview  Philadelphia HomeBuyNow assists Philadelphia employers recruit and retain valuable employees by helping these employees become homeowners.  Through this program, employers can make financial contributions toward their employees’ down payment and closing costs  Employees can also receive homebuyer training, counseling, home inspections and convenient access to home-improvement loan programs as a part of the benefits package.  The employers’ contribution are matched by the City up to $5,000.

3. Program Performance Snapshot  36 local employers participate in HomeBuyNow  From 2004-Present:  220 grants totaling $724,888 have been distributed by the City of Philadelphia  Employers have contributed $808,986

4. HomeBuyNow Participating Employers  AgustaWestland  Chick’s Café and Wine Bar  Citizens Bank  Cardone Industries  eXude Benefits Group  Fannie Mae  Gypsy Lane Technology  Law Office of Elaine Smith  Mallard Mechanical  Martin Banks Pond Lehocky & Wilson  The Neat Co.  Nochumson PC  P. Agnes, Inc  Re:Vision Architecture  Seder Physical Therapy  Tommy D’s Home Improvement  Westin Hotel For Profit Employers (17)

5. HomeBuyNow Participating Employers  African American Chamber of Commerce  Energy Coordinating Agency  Episcopal Community Services  Germantown Friends School  Greater Philadelphia Urban Affairs Coalition  Horizon House  Keystone Mercy Health Plan  NewCourtland Elder Services  People’s Emergency Center  Philadelphia Workforce Development Corporation  Philadelphia Housing Authority  PhillyCarShare  Saint Joseph’s University  Special People in Northeast, Inc.  Studio Incamminati  Temple University  University City District  University of Pennsylvania  University of the Sciences Nonprofit Employers (19)

6. HomeBuyNow Performance Statistics Year# of Grants Avg. Grant Amount Avg. Household Income Avg. Cost of Home 2004-200522$2,841$54,480$177,239 200651$2,725$52,527$134,123 200740$3,081$63,630$163,829 200862$3,630$66,809$188,650 200945$3,891$75,114$212,564

7. Buyer Profile by Income Low- and Moderate- income individuals comprise a majority of the buyers in HomeBuyNow

8. Income and Purchase Price Average Cost of Home by Income YearLow incomeModerate income Middle income High income 2004-2005$89,781$186,750$162,667$364,950 2006-2007$95,344$134,171$200,023$297,507 2008-2009$116,909$162,309$210,518$303,718

9. Contact  Jim Flaherty Senior Manager, Economic Development Initiatives Commerce Department Phone: 215-683-2126 E-mail: jim.flaherty@phila.govjim.flaherty@phila.gov  Dr. Lucy Kerman Vice President, Policy and Planning Greater Philadelphia Urban Affairs Coalition Phone: 215-851-1915 E-mail: lkerman@gpuac.orglkerman@gpuac.org