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News and Information Article
Royalle Dining Services of Dunkirk Adds HK4E to Employee Incentive Package
PRINCE FREDERICK, Md., Feb. 24 // -- In December, 2005, the
Calvert County Government signed a Memorandum of Agreement with the State of
Maryland to participate in the States new "House Keys 4 Employees" (HK4E)
program, at the same time becoming a participating employer. Calvert was the
first county in the State to officially sign on, proving its commitment to
affordable housing and innovative initiatives to assist the Countys private
and public sector working class by providing funding for the program that
offers down payment and closing assistance for first-time home buyers in
Calvert County. When announced, Board of County Commissioners (BOCC) president
David Hale said, "To demonstrate our support and commitment to this
initiative, the BOCC will provide additional local match to private sector
employers who participate in the House Keys for Employees program."
Today, the BOCC is pleased to announce that Royalle Dining Services of
Dunkirk has signed on to be the first private company to offer this benefit to
their employees. Ed Baddour, president of the company, said he views this
initiative as an excellent way to build strong community roots, improve the
lives of his employees and add a valuable attraction and retention tool to
Royalles suite of employee benefits.
"As a first-generation immigrant to this country, I know that home
ownership is an important goal for American families - it was certainly a
priority for me," he said. "Unfortunately, with the nations high housing
prices, it is often difficult or impossible for families to afford the large
down payment and closing cost expenses required to purchase a first home. It
is my hope that this program will provide another way to help my employees and
enable them to purchase their first home in the community where they work."
Baddour said this incentive also has to potential to be a key tool in his
companys attraction and retention program, enabling the company to compete
for skilled employees in a tight labor market. "Most companies already offer
health, vacation, sick leave and the other standard benefits. But how many
companies can tell their employees, We can also help you purchase your first
home? Thats a really special perk."
Hale said, "Having the first company sign on so quickly is a positive sign
that this program is a true fit for our local business community. We commend
Royalle Dining Services for their commitment to their employees."
The new HK4E project creates an additional level of opportunity for
affordable home ownership for the States working population. It is an
employer partnership initiative that matches funds for closing costs and down
payments for eligible employees who want to purchase a home. Eligible
employees are those who have not owned a principal residence in the last three
years. In addition, income and house price limits apply and eligibility tables
are available online at http://www.morehouse4less.com.
HK4E provides State matching funds up to $5,000 for employer and other
local contributions to make the cost of buying a house more affordable for
working people. The new partnership with DHCD will enable the County to
incorporate the use of grants of up to $5,000 from the Calvert Housing
Opportunities Fund (formerly the Affordable Housing Loan Fund).
For example, through a combination of State and local funds, eligible
Calvert County employees could receive up to $15,000 toward closing and down
payment costs for the purchase of a home:
Participating Employer Contribution $ 2,500
Calvert County Government Match $ 2,500
HK4E State Match $ 5,000
Additional Available State DSELP/MMP Plus Loan $ 5,000
TOTAL CLOSING COST/DOWN PAYMENT ASSISTANCE $ 15,000
For more information on "More House 4 Less" and affiliated programs, visit
http://www.morehouse4less.com.
For more information on Royalle Dining Services, call 800.404.8704, e-mail
Ed Baddour at ed.baddour@royalle.net or visit online at http://www.royalle.net.
Individuals interested in learning more about this program or other
Calvert County housing initiatives should contact the Calvert County, Maryland
Department of Community Resources at 410.535.1600 x2331 or via e-mail at
communityresources@co.cal.md.us.
The Calvert County Department of Economic Development has additional
information online, including a self-guided e-seminar that answers many
questions about this program. Visit http://www.ecalvert.com, call 410.535.4583 or
800.331.9771 or send an e-mail to info@ecalvert.com.
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