by Geoff Larcom, Published June 06, 2012
Eastern Michigan University employees who purchase a home in Ypsilanti will be able to receive forgivable loans of $7,500 under a new program being introduced by the University.
The program, called LiveYpsi, will be funded by EMU, Washtenaw County, and the DTE Foundation and possibly other partners. DTE presented a check for $30,000 toward the program in a ceremony this morning at the EMU Foundation, located at 1349 Huron Street in Ypsilanti.
"In the days since LiveYpsi was announced, I have already received numerous inquiries from EMU faculty and staff who are excited to participate," said Leigh Greden, EMU's executive director of governmental and community relations. "Although the program will start small, we hope it will succeed and grow. This is a win-win-win for the university, our employees, and the surrounding community."
Paul M. Ganz, DTE Energy's regional manager, says the LiveYpsi program's initiatives will promote the continued development of Ypsilanti's central core.
"It will benefit University employees and attract talented new workers and ultimately will contribute to the revitalization of the heart of Ypsilanti," Ganz said.
Ypsilanti Mayor Paul Schreiber said, "I am thrilled that DTE Energy Foundation is joining with Eastern Michigan University and Washtenaw County to offer forgivable new home loans to EMU employees.
"The LiveYpsi program is another example of a public/private partnership coming together to attract families and businesses to a great college town - Ypsilanti."
Details of the program include:
Greden's office will handle the paperwork for the loans. For further details, you can email him at email@example.com.