TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Discussion and Possible Action Regarding a Commission Letter of Support for the HELPER Act (H.R. 3170/S. 1514), Establishing a One-Time Use Home Loan Program for First Responders and Teachers
Recommended Action
Discussion and possible action regarding a letter of support for the HELPER Act of 2023 for the Mayor's signature and Clerk's distribution.
Background Information
The Mayor has received from Commonwealth Strategic Partners, a lobbyist firm representing specialty mortgage financing firm Heroes First Home Loans, a request for a letter of support for certain federal legislation introduced in Congress and cited as the ''Homes for Every Local Protector, Educator, and Responder Act of 2023'' or the ''HELPER Act of 2023''. This legislation is intended to help first responders and teachers buy their first home by establishing a new, one-time use home loan program under the Federal Housing Administration (FHA) for first responders and teachers.
The HELPER Act would establish a home loan program under the Federal Housing Administration similar to the popular and successful Veterans Administration home loan program available to our nation's veterans. Available to police and corrections officers, firefighters, EMTs and paramedics, and preK-12 teachers, a HELPER home loan would require no down payment and no monthly mortgage insurance payments for a first-time home purchase. For further details see the text of the bill at:
https://www.congress.gov/118/bills/hr3170/BILLS-118hr3170ih.pdf
The HELPER Act was previously introduced in 2021 during the 117th Congress as H.R.3172 and S.2981. It garnered the endorsement of over 300 national, state, and local organizations and elected officials and secured the co-sponsorship of over 100 members of Congress from across the country and the political spectrum. The HELPER Act was reintroduced May 10, ...
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