For many MTA employees, the idea of owning a home in New York feels like a dream out of reach. Despite the essential work they do to keep our city moving, high housing costs and market barriers make it challenging for these dedicated public servants to build a stable, long-term life here. I believe those who serve the public day in and day out deserve the chance to invest in their futures through homeownership. That’s why I’m advocating for a Down Payment Assistance Program, funded by the MTA, designed to make homeownership a reality for transit employees. This program will empower workers who are ready to establish roots and secure financial stability for themselves and their families.

Empowering TRANSIT Employees

This program is built around flexibility, offering two options to fit the varying needs and career plans of vested MTA employees. Both loan options are interest-free, accessible, and designed to be repaid over time with manageable deductions.

• 10-Year Forgivable Loan — Up to $100,000

  • For Long-Term Stability: This loan is tailored for those committed to a longer career with the MTA. It provides up to $100,000 in down payment assistance, opening doors to homeownership in areas that may have otherwise been unaffordable.

  • Forgivable After 10 Years: This loan is fully forgiven after ten years of continuous service, recognizing and rewarding employees who dedicate a decade or more to public service.

  • No Interest & Manageable Repayments: The 20-year repayment period, coupled with a zero-interest structure, keeps deductions manageable and ensures that the path to homeownership is both affordable and achievable.

• 5-Year Forgivable Loan — Up to $25,000

  • Flexible Option: This shorter-term loan provides up to $25,000 in down payment assistance and is ideal for those who need less capital & may desire more flexibility.

  • Forgivable After 5 Years: This loan is forgivable after just five years of service, providing a quicker pathway to forgiveness.

  • No Interest & Manageable Repayment: Like the 10-year option, this loan is also interest-free and can be repaid over 10 years, making it accessible and affordable.

Both loan options help MTA employees take meaningful steps toward homeownership without the overwhelming financial pressure that often accompanies a down payment. Importantly, these loans remain interest-free, ensuring that repayment is straightforward, manageable, and fair.

Why This Program Matters

Supporting Financial Security and Wealth Building: Homeownership is a critical step toward financial security and personal wealth. Unlike renting, owning a home enables employees to build equity, creating a lasting asset that appreciates over time. As property values in New York City continue to rise, investing in real estate offers a way for employees to achieve long-term stability and create generational wealth. This program recognizes that, for MTA employees, homeownership isn’t just a milestone; it’s a pathway to future financial independence.

Fostering Stability and Career Loyalty: This program goes beyond homeownership; it’s about creating an environment where employees feel truly valued. Providing down payment assistance as a reward for continued service strengthens the bond between employees and the MTA, incentivizing loyalty and job satisfaction. Employees who know they’re supported in their goals are more likely to invest in a long-term career, contributing their talents and dedication to the organization. This program shows that the MTA cares about its workers' lives outside the job, too, fostering a sense of pride, loyalty, and belonging.

Building Stronger Local Communities: When MTA employees live and own homes in the communities they serve, it fosters a unique sense of connection and pride. Homeownership encourages employees to invest in their neighborhoods, building stronger ties with their communities. Residents who work and live in the same area are more likely to get involved in local initiatives, participate in community events, and support local businesses. This program doesn’t just help individual employees; it contributes to neighborhood stability, growth, and resilience across New York City.

The Financial Impact

Investing in a program like this is a bold step, but one with long-lasting rewards. Helping employees buy homes is more than just a financial commitment; it’s an investment in workforce stability and community strength. Although this initiative requires careful financial planning, the benefits far outweigh the costs. With this program, the MTA could see long-term gains such as reduced turnover, higher job satisfaction, and stronger community connections.

Programs like this aren’t just theoretical—they’ve been implemented successfully across other cities. For example, Baltimore’s “Live Near Your Work” program provides matching funds to employees purchasing homes near their workplaces, showing how employer-supported homeownership can benefit both the workforce and the community.

Empowerment and Community

The Down Payment Assistance Program is a tangible expression of what it means to value MTA employees not just as workers, but as individuals with aspirations and families. This program would empower employees to make life-changing investments in their futures, allowing them to build wealth, grow roots, and secure their place in the city they help keep running. For the MTA’s workforce, this program opens doors that have long been shut by high costs and limited support.

For those who dedicate themselves to public service, this program offers a real chance at homeownership, community connection, and financial stability. It represents a vision for the MTA where employees feel supported, valued, and empowered to invest in themselves and their futures.