New Down Payment Assistance Programs Are Proposed In Colorado

For some Colorado residents, first time buyer programs are readily available. But not all first time home buyers in Colorado are privy to such lucrative offers. Residents of Aspen, however, are holding out hope for a new proposal that would create a down payment assistance program as a means to attract and hire talented employees.

Meanwhile, residents of Pitkin County are already benefiting from a program that provides up to $20,000 in down payment assistance.

Aspen Daily News reports:

The city of Aspen is considering offering a downpayment assistance program to prospective employees as one way of attracting and retaining a talented workforce. While the concept is still being vetted, according to Alissa Farrell, the city’s human resources director, it does suggest an improving local climate for workers.

Employee retention and recruitment have been a problem due to the exorbitant cost of living in and around Aspen, Farrell told elected officials during last month’s city council retreat. By offering a downpayment assistance program, the city may have a better chance of attracting and retaining talent.

“We’re hoping to bring this to an (Aspen City Council) work session in the next month or two,” Farrell said.

Pitkin County has a similar program already in place, according to county manager Jon Peacock.

“We do offer a downpayment assistance program, up to $20,000, and negotiate relocation assistance for some difficult-to-recruit positions,” Peacock said.

>> read the full story at aspendailynews.com


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