The Ohio State University is stepping up its efforts to encourage faculty and staff to buy homes in the University District. The OSU Board of Trustees was updated today on a proposal to increase the amount of an existing incentive and to expand its borders.
The original program, which started in 1998, provided down payment assistance of $6,000 to OSU staff and faculty looking to buy in the area. The new proposal would increase that to six percent of a home’s appraised value, with a cap at $15,000.
The boundary of the program is also expanding to include Old North Columbus, which had in recent years been excluded. The only University District neighborhoods now outside the boundary are the Circles and Glenn Echo.
OSU announced earlier this year that it would be providing a similar incentive for faculty and staff who buy homes on the Near East Side. That program, which provides down payment assistance of up to $8,000, remains in effect. The eligible area is centered on University Hospital East and extends to Hamilton Avenue to the east, Broad Street to the south, Leonard Avenue to the north and Woodland Avenue to the east.
For more information on the Near East Side incentives, see www.pact.org, for the University District see www.campuspartners.org.