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Bluffton manager pitches $20,000 homebuyer aid for town employees; council members press for deeper help for lowest incomes
Summary
Town manager Steven presented a proposed homebuyer assistance program that would offer tiered down‑payment and interest‑buydown help for Town of Bluffton employees, with $20,000 for workers at or below 120% AMI, and smaller amounts at higher AMI tiers. Council members urged expanded aid for lower‑income staff. (Program to go to council in July.)
Town manager Steven presented a proposal to help Town of Bluffton employees buy homes near their jobs, saying the program would use tiered assistance to make homeownership more attainable.
Under the proposal, employees at or below 120% of area median income (AMI) would be eligible for $20,000 in assistance — described in the presentation as a 2% interest buy‑down plus a 3% down‑payment contribution. Employees between 121% and 140% AMI would receive $15,000, and those above 141% would be eligible for $10,000. The funds would be provided at closing as a five‑year lien on the property that…
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