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Bay Area district links with start-up to help educators buy homes [edsource.org]

 

As school districts around California scramble to tackle a teacher shortage in the face of rising housing costs, the West Contra Costa school district hopes a new program that offers home down payment assistance will help its efforts to recruit and retain teachers.

“This is just one of the innovative opportunities we have worked on to assist our teachers to stay in our communities and continue to help our students thrive,” said district Superintendent Matthew Duffy. “West County, and particularly Richmond, is one of the few places in the Bay Area where home buying is still relatively affordable.”

Through the new program, a San Francisco-based for-profit startup company called Landed will pay half of the down payment up to $120,000 per household in exchange for 25 percent of the gain or loss in value when the home is sold. At that time, buyers would also repay the down payment.

[For more on this story by THERESA HARRINGTON, go to https://edsource.org/2018/bay-...ors-buy-homes/596237]

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