Much like a
Wayne State program
that's found success in Detroit, EMU is trying to persuade some of its full time employees to buy a home in Ypsilanti by offer sweet loan deals.
"The Live Ypsi program, which is currently being finalized and will likely be announced later this month, will use EMU, Washtenaw County government and DTE Foundation resources to offer forgivable loans to full-time faculty and staff who purchase a home in the Ypsilanti area.
Officials say loans will likely range from $5,000 to $10,000 per individual. For each year that the homeowner lives in the Ypsilanti area and maintains employment at EMU, 20 percent of the loan will be forgiven. After five years, the loan will be completely forgiven."
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