VSU sees house-purchase payment assistance program as ideal recruiting, community support tool

ETTRICK — As the old saying goes, there's no place like home. Virginia State University has taken that idiom to heart in its latest effort to recruit employees.

VSU has launched what it is calling a "first-of-its-kind" recruitment intiative that offers up to $10,000 toward a residential purchase in Petersburg or Ettrick by newly hired university personnel. The VSU Home Assistance Payment Initiative, referred to as VSU-HAPI, covers single-family houses, townhouses and condominiums.

Virginia State University is proud to share details of the University’s newest employee assistance and community engagement program. The VSU “Home Assistance Payment Initiative,” or VSU-HAPI, is a program designed to attract and retain highly qualified employees and improve the economies of local communities. The VSU-HAPI will provide eligible homebuyers up to a $10,000 match toward the down payment or closing cost of a newly purchased home within the city limits of Petersburg, VA, or in the Village of Ettrick, in Chesterfield County, Virginia. Eligible properties include a single-family home, townhouse, or condominium home.

VSU said the program will not tap into state or student scholarship funding, as it is completely stocked by private dollars.

University president Dr. Makola Abdullah called VSU-HAPI a "win-win" for both the college and its surrounding areas of Petersburg and Ettrick.

"Our HAPI program will have an economic and demographic impact on those communities we are part of,” Abdullah said in a statement. “We expect the program to further assist with retaining and attracting qualified employees. If those employees live, shop, and educate their children in the community where they work, it will benefit our employees and the community tremendously."

To be eligible for participation, recipients must be VSU employees who will use the money for their primary residences only. They also cannot subleased or rented out, and they must use an HUD-approved lender for their financing. The dwelling must be in either the city of Petersburg of the village of Ettrick.

The money will be paid directly to the escrow or closing agent.

A university spokesperson said the program is still in its infancy. No one has qualified yet because the school just began sending out applications.

“VSU is one of the largest employers in Chesterfield’s Ettrick community, and we are located within mere steps of Petersburg," Abdullah said. "That makes this initiative a win-win.”

Bill Atkinson (he/him/his) is an award-winning journalist who covers breaking news, government and politics. Reach him at batkinson@progress-index.com or on Twitter at @BAtkinson_PI.

This article originally appeared on The Progress-Index: Virginia college plans to match employees' down payment, closing costs