State looking to entice graduates to stay in certain cities across the state

Local News

Graduation weekend is almost here, so for many college seniors they’ll be packing up and heading back home. But a new $5 million state program is working to keep them around, enticing grads to buy homes and build lives in New York.

The Governor is trying to help them become first time home buyers; the pilot program gives graduates two years to decide whether they want to stay put. It will be launched in eight cities, including Oswego.
 
“We want to attract working-class people, professional people, educated people into our communities, so they buy homes, they raise a family and they work in our communities and shop at our small businesses downtown, go to our theater and spend money that really helps stimulate the local economy,” said Mayor Billy Barlow.
 
Students will be offered low-interest rate mortgages, a down payment assistance loan with no additional fees, and a home buyer education course. 
 
“Really it will focus them in on communities like Oswego. And I think draw attention to all the good things happening that people might not be aware of,” said Barlow.
 
All of the cities included in the program are part of the Downtown Revitalization Initiative, so new neighbors will be attracted the city as the city itself begins to grow and change.
 
“We want to try to get them to stay in Oswego and this is what this program will help them accomplish,” said Barlow.
 
Benefits that current students say may have made their stay in Oswego longer than a few years.
 
“If I had know that going in earlier, I would have definitely pursued more options here,” said Nick De Amicis, graduate student.

Mayor Barlow was not aware of when the program is set to begin, we reached out to the Governor’s office and have yet to hear back. This program will also be available in Geneva.

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