Point Gardens Employee Retention Program
What is Point Gardens?
Nestled in the heart of Poynette, Wisconsin, Point Gardens is a residential development project that promises to redefine the essence of community living. With up to 307 new single-family homes for sale, Point Gardens offers not just homes but a vision of a better life, where affordability and quality merge seamlessly.
At Point Gardens our commitment to responsible land use and environmental sustainability forms the bedrock of our mission. At the intersection of this dedication lies the Point Gardens Employee Retention Program, a distinctive initiative designed to help employees secure high-quality, affordable housing in proximity to their workplace. This program mirrors our pledge: the responsible use of land and the well-being of our residents.
What is the Point Gardens Employee Retention Program?
The Point Gardens Employee Retention Program is a unique initiative designed to help employees find affordable housing near their workplace.
It is a partnership between employers and the development team at Point Gardens to provide various forms of assistance to employees in securing high quality, affordable homes to purchase. This innovative initiative is dedicated to assisting employees in achieving affordable homeownership within close proximity to their workplace, forging a mutually beneficial partnership that benefits both employers and their dedicated teams.
To bring this program to life, Point Gardens looks forward to partnering with local organizations across diverse industries, each recognizing the critical need for affordable housing solutions for their employees. Here are some possible scenarios:
Example Proposal #1
Meet the Craftsmen Construction Co, a well-established player in the construction industry located in proximity to Point Gardens. Craftsmen Construction recognizes the importance of affordable housing for their employees, many of whom are skilled laborers and craftsmen.
Employer Contribution: In this scenario, Craftsmen Construction decides to contribute $5,000 toward a down payment assistance for employees interested in purchasing homes in Point Gardens. This contribution, structured as a forgivable loan, is forgiven at a rate of 10% per year, contingent upon continued employment with the company.
Point Gardens' Match: As a part of the Point Gardens Employee Retention Program, Point Gardens Homes matches Craftsmen Construction's contribution dollar-for-dollar, providing an additional $5,000 for eligible employees.
Additional Grants: Income-eligible employees at Craftsmen Construction may also be eligible for up to $10,000 in grants. In total, with the combined developer and employer contributions, qualified employees can receive up to $20,000 towards their home purchase.
Example Proposal #2
Innovator Tech Co recognizes the need for affordable housing and partners with Point Gardens Homes to provide a housing assistance program for their employees.
Employer Contribution: Innovator Tech Co contributes $10,000 (as an example) for a downpayment structured as a forgivable loan that is deemed forgiven 20% per year provided the employee stays employed by the company.
Point Gardens' Match: Point Garden Homes agrees to match on a dollar-for-dollar basis up to $10,000 of an employer’s financial contribution to employees buying a home in Point Gardens.
Additional Grants: Income-eligible employees at Innovator Tech Co can receive up to an additional $10,000 in grants. With the available developer and employer contributions, eligible employees may receive up to $30,000 towards their home purchase.
NOTE: Each Buyer scenario has the option to use Point Garden’s contribution for:
Interest rate buy down
Down payment assistance
What are the benefits for employers?
Attract and Retain Talent
One of the primary benefits for employers is the ability to attract and retain good employees.
Employer contribution structured to vest over time as an incentive to stay with the company
Homeownership offers employees more stability and responsibility, which correlates to employment.
By offering housing assistance, companies can stand out in a competitive job market and retain employees.
Employees who live closer to their workplace tend to have shorter commutes, leading to increased productivity and reduced absenteeism.
Positive Corporate Image
Offering such a program enhances the company’s image as a socially responsible and caring employer.
What are the benefits for employees?
High Quality Affordable Housing
Employees gain access to high quality affordable housing options, making it easier to live in proximity to their workplace.
Lock in their housing cost to escape ever increasing rents.
Reduced Commute Times
Shorter commute times lead to less stress and more time for personal and family activities.
Financial incentives such as down payments assistance and/or housing subsidies.
Hedge against inflation.