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the community's interest in long -term affordability with the homeowner's <br />interest in accruing equity over time. <br />The City, in coordination with the Chamber of Commerce, should <br />encourage major employers and lenders to consider Employer- Assisted <br />Housing (EAH) programs, encouraging employers to work with employees <br />in their efforts to purchase housing. In some instances, the City and the <br />Chamber will have to help raise the awareness among local employers <br />and increase their understanding that not all wage levels permit ready <br />entry into homeownership, without some sort of subsidy. This is important <br />in that the private sector and employment community often view the use of <br />subsidies to help low to moderate income households achieve <br />homeownership as a public responsibility. In reality, with limited resources, <br />the city government can only assist a small percentage of those in need. <br />The Chamber can play a critical role in researching this issues and <br />encouraging local businesses, local school districts, universities and local <br />hospitals to consider implementing such programs for their employees. <br />Employer- Assisted Housing programs benefit employers, employees, and <br />the community. Employers benefit through greater employee retention. <br />Employees receive aid to move into home - ownership. Ultimately, <br />communities benefit though investment in the neighborhoods where the <br />employers and employees are located. The most common benefits <br />provided by employers are grants, forgivable loans, deferred or repayable <br />loans, matched savings, interest -rate buy downs, shared appreciation, and <br />home -buyer education (provided by an employer- funded counseling <br />agency). Successful EAH programs use a combination of some of the <br />benefits listed above. One program that has met with success was <br />developed by Fannie Mae, which not only has their own EAH program, but <br />also helps employers implement EAH programs. Fannie Mae's own EAH <br />program has made it possible for 2,200 of its employees to become <br />I <br />