CITY OF HAYWARD - File #: LB 19-015

• File #: LB 19-015
• Section: Legislative Business
• Status: Agenda Ready
• Meeting Body: City Council
• Agenda Date: 4/9/2019
• Subject: Approval of a Pilot Employee Home Loan Assistance Program

Date	Action By	Action	Result
4/9/2019	City Council	approved	Pass

DATE:      April 9, 2019

TO:           Mayor and City Council

FROM:     Director of Finance

SUBJECT                     

Title

Approval of a Pilot Employee Home Loan Assistance Program             

End
RECOMMENDATION

Recommendation

That the Council considers the approval of a pilot employee home loan assistance program.

End

SUMMARY

City of Hayward employees have expressed interest in an employee home loan assistance program and a survey was sent to California jurisdictions to inquire about details of existing home loan assistance programs. Existing programs fall into three categories: (1) Jurisdiction operated financing for all employees meeting established program standards; (2) Jurisdiction operated financing for department heads and/or city managers only; and (3) Partnership programs with financial services organization for all employees. Of these three types of programs, the partnership programs are the most employed by jurisdictions.

ATTACHMENTS

Attachment I                                          Staff Report