October 16, 2008

Housing incentive plan contemplated by C-S School Board


Housing market slump? Good employees leaving for other jobs? Small towns losing population?

Not around here if the Center-Stanton School Board has anything to say about it. At the board meeting Oct. 9, Board President Rick Schmidt presented a proposal to help faculty members buy a home, keep working at the Center-Stanton Public School and thus help maintain the population. Schmidt worked with board member Nathan Henke and board attorney John Mahoney as a housing committee in formulating guidelines for a housing incentive program.

The Center-Stanton School District will set aside $2,000 per year for each teacher employed by the district that buys or builds a home within the district. The money will be allocated for five years beginning the 2008-2009 school year or from the time of employment by the district. This money will be set aside in a special account. Board member Todd Buchmann suggested a CD and draw on it as it’s needed.

If at the end of five years, a teacher has owned, purchased or built his or her own home in the district during and at the end of that five year period, that teacher will be paid $10,000 accumulated principle together with accrued interest.

Only one teacher per household is eligible, and if at the end of the applicable five year period for any teacher, that teacher has not built or purchased a home in the Center-Stanton School District, then the moneys contributed to the housing incentive account and interest attributable to that teacher will go into the general fund.

According to the committee, there are now 17 teachers who would be eligible for the incentive and the cost would amount to $34,000 a year.

There was discussion concerning teachers close to retirement and teachers losing their positions due to reduction in force.

The Weather Network