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<br /> <br /> <br /> <br /> <br /> The program would be limited to a certain amount of loans at any given <br /> time... It would be up to the Finance Department to determine how many <br /> loans will be out at a given time... When the program limit is reached, <br /> public employees will be placed on a first-come, first-serve waiting list and <br /> <br /> will be notified when a loan is available. <br /> <br /> The maximum loan amount may not exceed, say, $20,000. The interest rate <br /> for this loan would be about 5 percent. <br /> <br /> The property must be owner occupied. <br /> <br /> <br /> The loan is only available to first-time Big Island homeowners. <br /> <br /> It would be up to the administration to draft the program documents, <br /> determine funding sources, and work out other details for how to <br /> successfully implement the program. <br /> <br /> <br /> Mortgage Assistance Programs are being implemented across the country for <br /> both recruitment and retention. <br /> <br /> I've modeled my proposed "Silent Second" Residential Assistance Program <br /> after one that has been successfully implemented in Brentwood, CA to <br /> <br /> address a police shortage there. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> :,A <br />