photo credit: Library Lofts and Lindsey Yeo

If you work for Blue Cross Blue Shield of Michigan, Compuware, DTE Energy, Marketing Associates, Quicken Loans or Strategic Staffing Solutions, it literally pays to live downtown. These employers are offering financial incentives to employees to live where they work.

Here’s a quick look at how Live Downtown works

Full- and part-time employees of the five participating companies who work in southeast Michigan are eligible to participate in Live Downtown. Those who choose to move downtown or who already live there can use the following incentives:

  1. New homeowners receive a $20,000 forgivable loan toward the purchase of their primary residence.
  2. New renters receive a $2,500 allowance of funding toward the cost of their apartment in the first year, followed by additional funding of $1,000 for the second year.
  3. Existing renters receive a $1,000 allowance of funding for renewing a lease.
  4. Existing homeowners receive matching funds of up to $5,000 for exterior improvements for projects of $10,000 or more.

Eligible neighborhoods are Corktown, downtown, Eastern Market, Lafayette Park, Midtown and Woodbridge.

Live Downtown Program website