Workers at the Detroit Medical Center, Henry Ford Hospital and Wayne State University will be the beneficiaries of a $1.2 million program to incentivize employees to move to Midtown, Woodbridge, New Center and Virginia Park neighborhoods.
The program will provide eligible employees with rental allowances up to $2,500 or forgivable loans to the tune of $25,000 over five years.
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The Michigan State Housing Development Authority and the Hudson-Webber Foundation are matching the anchor employers' first-year investment, bringing the total to $1.2 million for this year.
In a release, the organizations said the Troy-based Kresge Foundation also plans to provide some investment for the pilot project, with the anchor employers continuing funding in subsequent years.
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