HENRICO COUNTY, Va. -- Henrico County launched a program Monday to help county employees buy their first home. As part of the program, the county has offered up to $25,000 to attract a dedicated workforce.
"It's a tool to help with recruitment of good employees, it also helps retain good employees," Eric Leabough, Henrico County Director of Community Revitalization, said.
The $25,000 is put toward downpayment or closing costs for first-time home buyers who work for the county, including Henrico County Public School teachers. Recipients must live in their homes for at least five years.
Leabough said the county is addressing a need in the community.
"By 9:15 we already had 30 people already start the process," Leabough said. "Given the volume of the phone calls we've received, emails we've received, requests for information, or other folks just checking in about the program, it will be well received."
The average median home price in Henrico is $350,000.
The county has also partnered with nonprofits like Maggie Walker Community Land Trust to build more affordable homes.
"With the stress of trying to figure out housing, trying to put in a bid, trying to figure out the best offer, the financial piece, alleviating something like that would make it easier for someone like me," Henrico County employee Tamra Gore said when asked about the program earlier this year.
Henrico County leaders said even if you are eligible for housing help through the county and receive closing costs funds, you can still apply for additional assistance through other programs like Virginia Housing to help cover additional costs.
To qualify for the Employee Home Purchase Assistance Program, an employee must:
- Be a full-time, permanent employee of Henrico’s general government, Henrico County Public Schools or the county’s constitutional officers – the Clerk of the Circuit Court, Commonwealth’s Attorney and Sheriff
- Have at least 12 months of continuous, full-time service and a performance appraisal rating of “acceptable” or better
- Be a first-time homebuyer or an individual who has not had any ownership interest in a home within the past five years;
- Have a household income that does not exceed limits set by Virginia Housing, which are currently $98,400 for households with two or fewer members and $114,900 for households with three or more members; and
- Purchase a single-family attached or detached home, a manufactured home on a permanent foundation or a condominium located in Henrico. The sales price must not exceed Virginia Housing’s regional sales price limit for an affordable home, which is currently $425,000.
Click here for more information about Henrico's Employee Home Purchase Assistance Program.
Employees of Henrico County general government and constitutional officers can click here.
Employees of Henrico County Public Schools can click here.
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