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Homebuyer Program Extended

Yale Homebuyer Program Extended through 2007

President Richard C. Levin recently announced that Yale will extend its Homebuyer Program for a seventh two-year phase. The program, which has already helped over 730 University staff members buy houses in New Haven and has thereby contributed to the stabilization of neighborhoods, will now continue until December 31, 2007.

"Yale continues to do its part to promote increased homeownership in New Haven," Levin said. "We are pleased that so many of our employees are living in homes they purchased through the program. They are enjoying and adding to the quality of life in our city."

Yale launched the Homebuyer Program in 1994 as part of Levin's New Haven Initiative, which has broadened Yale's partnerships with the city in the areas of economic development, neighborhood revitalization and human development.

The program provides $7,000 at the time of home purchase and nine additional annual payments of $2,000. About half of the homebuyers to date are unionized staff and half are faculty and management and professional staff. The program includes many New Haven neighborhoods and all Empowerment Zone neighborhoods, and is administered by the Yale University Office of New Haven and State Affairs ( www.yale.edu/onhsa). Yale staff should contact Bill Carney in HR Benefits/Records Office either by phone (2-5535 or 2-5539) or email (bill.carney@yale.edu) for assistance with this program.