Canisius EAH is a Win-Win

(from left to right): Congressman Jack Quinn (R-30, NY); Bob Bannister, director of Fannie Mae’s Western and Central New York Partnership Office; Congressman John J. LaFalce (D-29, NY); Rev. Vincent M. Cooke, S.J., president of Canisius College; John Hurley, vice president of college relations and general counsel at Canisius College, announce the new program

Canisius College is making headlines again.  The January 17 announcement of the new Employer Assisted Housing Program (EAH) made local front-page news and had the broadcast media out in force.  The new EAH program is designed to help Canisius employees purchase homes in designated areas in the city of Buffalo.  It also received the endorsement of the Buffalo News in an editorial on Sunday, January 26.

Developed for the college by John J. Hurley, vice president for college relations and general counsel in consultation with the Western and Central New York Partnership Office of Fannie Mae last week, this exciting new program open to all full-time employees of the college, except employees covered by a collective bargaining agreement.

Specifically, the Canisius EAH is structured as a forgivable loan program.  Loans will be made to qualifying employees to assist with down payments and closing costs in eligible neighborhoods.  The loan will be forgiven over five years, at a rate of 20 percent per year, provided the employee remains employed at Canisius.  They will be secured through a second mortgage lien on the residence purchased until all of the conditions of the second mortgage have been satisfied.  The cost to prepare and record the mortgage will be paid by the employee at the time of the closing.

"This is one way that Canisius College can encourage home ownership in the city of Buffalo, particularly in the neighborhoods immediately adjacent to the college," said Father Cooke.  "We believe our EAH program will not only facilitate home ownership but also develop greater employee loyalty to the college and commitment to the city of Buffalo."

In order to qualify for this program, a Canisius employee must purchase a one or two family home as a primary residence in one of the eligible areas: the Delaware Council District, the Masten Council District or the portion of the North Council District bounded by Richmond Avenue to the west, then north to Forest Avenue, east to Elmwood Avenue and north to Hertel Avenue.   Five percent (5%) of the purchase price or $5,000, whichever is less, will be available for qualified employees in the eligible areas.

An enhanced loan benefit will be available to an employee who purchases a one or two-family home as his/her primary residence in three target neighborhoods: the Parkside Community Historic District, the Hamlin Park Historic District or the portion of the Linwood-Oxford neighborhood bounded by West Delavan Avenue to the north, West Ferry Street to the south, Main Street to the north and Linwood Avenue to the west.  The enhanced loan benefit is ten percent (10%) of the purchase price or $7,000, whichever is less, for homes in the target neighborhood.

If an employee already resides in WNY, then there is a six-month waiting period after employment before the employee is eligible for the program.  If the employee is moving to WNY to accept a job at the college, the waiting period is waived.  The grants are forgiven at the rate of 20% per year so long as the employee remains with the college and keeps the house as a primary residence.

"This benefit is available once to an employee while he or she is employed by Canisius. And the college must reserve the right to limit the number of grants in any one fiscal year, so grants are available on a first come, first approved basis," said John Hurley. "As this is our first experience with a program of this type, we also need to reserve the right to make changes in the program from time to time."

The EAH program is but one piece of the larger puzzle that Canisius College is putting together.  The ultimate goal is to be the catalyst for rebirth and renewal in Buffalo's central city. 

"Our employees have a great track record of participation in their neighborhoods, community associations, schools and parishes," says Father Cooke.  "This program will bring more of our great Canisius people into the city."

Partnering with Canisius College are M&T Mortgage Corporation and Hunt Real Estate Corporation who are providing many benefits including home buying seminars, free pre-approval for homebuyers and a $100 discount off closing costs and a personal move coordinator.

For more information on the EAH program, contact Joyce Eulner, director of personnel at ext. 2240.

Everett Named Director of Public Safety

Congratulations to Gary Everett who was recently named director of public safety. Gary has been serving as interim director since July 1, 2001 and has been a part of the Canisius family for twenty years.

"In addition to possessing excellent administrative and leadership skills, Gary has a great deal of integrity and truly cares about the welfare of every member of the Canisius community," said Dr. Ellen Conley, vice president for student affairs.

Gary first served as a public safety officer on the midnight shift. In 1984, he was promoted to sergeant of the afternoon shift and three years later he was named lieutenant.  In 1998, Gary moved up to commander of patrol service, supervising all three patrol shifts. He was named assistant director of the department in 1999.

Gary has been a member of the Buffalo Special Police for more than 28 years. Last fall, Sheriff Patrick Gallivan '82 appointed him to the Homeland Security Taskforce.

Bishop Mansell Presents Medals to Canisius and the Koesslers
Bishop Henry Mansell will present Canisius College and members of the Koessler Family with medals for their contributions to Catholics and Catholic education during the Catholic Education Dinner tomorrow night at the Adam's Mark Hotel.  

Father Cooke will accept the medal on behalf of Canisius, which is cited for its "impressive record of excellence in Catholic education and its continuing reinvestment in its Main Street campus." 

The Koessler Family is cited for their "philanthropic commitment to Catholic education and to Canisius College, beginning with J. Walter Koessler, a 1922 graduate of the college and his brother Kenneth, a 1929 Canisius graduate."

Cardinal Edward Egan, featured speaker for the evening, will visit Buffalo for the first time since being named Archbishop of New York.