July 1, 2012 Programmatic Changes
The University recently performed a careful and comprehensive review of its homeownership programs to ensure that the target recruitment and retention objectives for which the programs were established are being met as effectively and efficiently as possible.
Based on this review, a series of revisions to the terms and conditions of the homeownership programs will go into effect on July 1, 2012. Eligibility for all three (3) programs will also be revised. Currently eligible employees will be grandfathered for participation in the programs (subject to the revised terms) at their June 30, 2012 level of eligibility for one calendar year to allow for a smoother incorporation of eligibility revisions into home-buying decisions.
- Detailed information about changes to the terms and conditions of the Standard Mortgage Program and the Tenancy-In-Common program is available in the "What's New?" section of the Office of Finance & Treasury website.
- As of July 1, 2012, the Princeton Faculty Residential Purchase Plan (PFRPP) Program will encompass the 140 properties in the former Gray Farm and Broadmead programs. All properties in the PFRPP will be governed by the terms, conditions, and restrictions of the former Broadmead program.
- Homeownership Program Eligibility as of July 1, 2012