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Council directs staff to craft employee homebuyer incentive policy for Taylor workers
Summary
Council instructed staff to continue developing an employee homebuyer incentive program policy that could offer deferred loans to help employees with closing costs; staff will return with funding options and policy details.
The Taylor City Council on Sept. 25 directed staff to continue developing an employee homebuyer incentive program intended to help city employees buy homes within the city. Staff described the proposal as a one-time deferred loan to assist eligible expenses such as closing costs and said the program may use promissory notes that are forgiven after a fixed service period.
The presentation described potential benefits including improved recruitment and retention for hard-to-staff positions,…
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