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File #: RPT 18-210   
Section: Informational Report Status: Agenda Ready
Meeting Body: Council Budget and Finance Committee
Agenda Date: 1/30/2019 Final action:
Subject: Consideration of a Pilot Employee Home Loan Assistance Program
Attachments: 1. Attachment I Staff Report

DATE:      January 30, 2019


TO:           Council Budget and Finance Committee


FROM:     Director of Finance




Consideration of a Pilot Employee Home Loan Assistance Program                                                             



That the Council Budget and Finance Committee provides feedback and direction on guidelines for a pilot employee home loan assistance program.




City Council expressed a desire to explore options to encourage City of Hayward employees to live within the City limits.  Staff researched options, surveyed various California jurisdictions, and administered an employee survey to determine employee interests.  Existing programs fall into three categories: (1) City-operated financing for all employees meeting established program standards; (2) City-operated financing for department heads and/or city managers only; and (3) Partnership programs with financial services organization for all employees. Of these three program types, the partnership programs are the most preferred by jurisdictions and utilized by employees.  This is the type of program recommended for Committee consideration.



Attachment I                                          Staff Report