dv/livenear.pr           97-234         Contact: Gary Stith (301) 565-7300

"LIVE NEAR YOUR WORK" PROGRAM
HELPS SILVER SPRING WORKERS
BECOME SILVER SPRING HOMEBUYERS    For Immediate Release: July 18, 1997



     Workers in the Silver Spring/Takoma Park area who want to purchase homes near
their job may be able to get help with a down payment, through a recently announced State
program known as "Live Near Your Work."
     "The 'Live Near Your Work' program can serve as another important tool in the Silver
Spring revitalization effort," said Montgomery County Executive Douglas M. Duncan.  "It
provides a creative incentive for employees to live and work in Silver Spring, and should help
to bolster both the business and residential communities there."  Duncan said "Live Near
Your Work" will help to supplement County programs, such as the recently launched Home
Ownership Montgomery initiative, which aims to boost home ownership opportunities,
particularly in targeted older neighborhoods.
     The new program -- launched earlier this month by Governor Parris N. Glendening as
part of his "Smart Growth" initiative -- is designed to help restrain urban sprawl throughout
the State, while rejuvenating older, established communities such as Silver Spring.  The effort
aims to strengthen neighborhoods by increasing opportunities for home ownership and by
making downtown Silver Spring a more attractive place for businesses to locate and 
                                  -more-
"LIVE NEAR YOUR WORK"                                       2-2-2

expand.
     Under program guidelines, participating employers join with State and local
government to contribute $3,000 toward the purchase of a home near the workplace.  The
employer provides $1,000, which the State and local government each match with a $1,000
grant.
     In order to receive a grant through the "Live Near Your Work" program, employees of
participating Silver Spring area businesses must purchase a home within the program's
established boundaries.  Included are residential communities near downtown Silver Spring,
and in Montgomery Hills, Long Branch, and parts of Takoma Park.  Employees participating
in the program must contribute a minimum of $1,000 towards the purchase of their home and
must reside in the home for a minimum of three years after purchase.
     Four Silver Spring businesses which have already committed to participating in the
"Live Near Your Work" program are Information Systems and Services, Inc.; Linowes and
Blocher, LLP; Moore and Associates, Inc.; and Statland & Katz, Ltd.
     Other Silver Spring area employers or individual employees interested in participating
in the program, or in obtaining additional information, are urged to contact the Silver Spring
Center at 301-565-7300.  They may also contact the Maryland Department of Housing and
Community Development's Office of Neighborhood Revitalization at 410-514-7288.

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