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Freeport adopts employee residency incentive: $2,500 toward home purchases, $100-a-year lease benefit
Summary
Council adopted Section 9.18 to the employee handbook offering $2,500 toward the purchase of a primary residence paid over five years and a $100/year voucher for leased units (up to five years); staff estimated an initial budget impact of about $3,800 and will return with verification procedures.
The Freeport City Council on Nov. 18 voted unanimously to add Section 9.18 to the City employee handbook to encourage full-time employees to live in the city.
Under the adopted policy staff described, employees who do not already reside in Freeport who purchase a primary residence inside city limits would be eligible for $2,500 paid in increments over five years; employees who lease a unit inside the city for at least a one-year lease would receive $100 per year upon renewal for up to five years. Staff told the council the program was budgeted conservatively at roughly $3,800 for the first year.
Council members asked about eligibility verification, whether incentives were restricted to primary residences (staff confirmed they are), and why the proposal was not introduced during the main budget cycle. City staff said the amounts were comparable to incentives used in other municipalities and that future adjustments would be possible if the city’s fiscal position improved.
Human Resources and finance staff were directed to prepare administrative procedures, including required closing documents and annual residency verification, and to report back at the next meeting.
