News Release
For Release: Immediate
Contact: Frank Baraff 914-469-3775

Orange To Offer Program to Help People Who Work in Orange to Buy Homes There.

On Tuesday July 14, 2009, Orange Mayor Eldridge Hawkins Jr. joined NJ Department of Community Affairs (DCA) Commissioner Joseph Doria and New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge DellaVecchia at Reock Commons, a new condominium development at 57 South Center Street, to announce that Orange is the newest member of the Live Where You Work Program. The city is the 15th municipality to partner with the HMFA on the program.

The Live Where You Work Program is a workforce housing initiative that provides low-interest, fixed rate mortgage loans to homebuyers purchasing homes in towns where they are employed. Other benefits include down payment and closing cost assistance for the purchase of a home within Smart Growth Areas and flexible underwriting criteria for the loan qualification process. Homes must be located in a municipality that has become a Live Where You Work partner with HMFA. The Live Where You Work initiative strives to revitalize and build sustainable communities that will provide a greener environment, access to alternative transportation and affordable housing opportunities for residents.

Live Where You Work can make homeownership a reality for many families. Participants can receive larger loans than they would otherwise be eligible for because the program understands that the money they will be saving with a shortened commute can now be invested in their mortgage. Trenton, Jersey City, Woodbridge, Elizabeth, Atlantic City, Rahway, Morristown, Evesham, Neptune Township, Bayonne, Carteret, New Brunswick, Paterson and Glassboro are all taking part in the program.

Statement by Mayor Eldridge Hawkins, Jr.
“In a time of economic crisis, any program that eases or creates opportunities for people to purchase homes is a great thing and the Live Where You Work program accomplishes this by targeting people who work in our community. That means more of our police officers, firefighters, teachers and other anchors of our community can now live right next door, making the community safer.

People who live in the community where they work have a greater stake in their community and have more time and motivation to become involved in community activities. Their discretionary spending and taxes strengthen the local economy.”

Statement by Valerie Jackson, Director of Planning and Development
“The Live Where You Work Program fits in perfectly with Orange’s strategy to plan redevelopment around attracting new tax-paying residents and businesses to our community. Orange is a wonderful place to live. We want people who work here to be able to live here.
Although we are in the midst of a recession, Orange continues to move forward with development and with programs to preserve and rehabilitate our existing housing.”

For More Information: Visit http://www.ci.orange.nj.us/ and click on the Live Where You Work Logo