On Penn's Neighborhood Housing Program

"Penn remains committed to its Neighborhood Housing Program," said vice president for Buisness Services Leroy Nunery. This includes the Guaranteed Mortgage Program which enables eligible employees to apply for financing for homes, including the purchase price, up to five-percent of the purchase price for closing costs and up to 15-percent of the purchase price for renovations; the Enhanced Mortgage Program, a cash-incentive that enables eligible employees who purchase homes in University City to receive either $3,000 per year for seven years or a one-time payment of $15,000 on properties that are the employee's principal place of residence; and the Home Improvement Loan Program, which enables eligible employees who already own homes in University City to obtain up to $7,500 in matching funds for exterior renovations; and educational seminars for first-time homebuyers.

Mr. Lee Nunery will continue to be responsible for the Neighborhood Housing Program; the contact for those with questions on the various component parts will be Stefany Williams-Jones at (215) 898-7422. Miki Farcas will continue to direct the Office of Off-Campus Living, (215) 898-8500.

Almanac, Vol. 46, No. 16, January 11, 2000

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