NEW HAVEN, Conn. — A Yale University program that helps employees buy homes in designated areas of New Haven has been extended through 2019.
Yale says a total of 1,221 faculty and staff members have taken advantage of the program. It was introduced in 1994 to help boost some of the less affluent neighborhoods in its home city.
Yale trustees voted at a meeting this month to renew the program for another two-year phase.
The program offers a $5,000 first-year bonus and an annual $2,500 for up to 10 years for Yale employees as long as they own and live in the home. Participants in the program have been 30 percent clerical and technical staff, 29 percent faculty, 27 percent management and professional staff and 14 percent service and maintenance staff.