Incintive for home-buying in walkable communities

[perspicuity85]

http://www.locationefficiency.com/

"Did you know that you can increase your home-buying power simply by living close to public transit, stores, and schools? In an effort to increase home ownership in urban areas, use of public transit, and support of neighborhood businesses and to reduce energy consumption and air pollution, the Institute for Location Efficiency has created the Location Efficient Mortgage (LEM).

The LEM is a fixed-interest rate, 15-to-30-year residential mortgage that can be used to purchase owner-occupied, single-unit detached homes, condominiums, and town homes. Lenders are allowed to consider the transportation-related savings achieved by an urban household that uses public transportation and relies on local services such as stores, schools, entertainment, and recreation. For many urban households the LEM can mean an increase in buying power of 50 to 100 percent of one year's household income!"
-Heidi Schultz, Nat'l Geographic

[Rico]

This is something that has been successfully incorporated into infill incentives in other parts of the Country.. Not only the ones listed on the web site...

This could easily be part of a package the City of Tulsa could put together for the rebuilding and re-population of the Downtown area..

For further info on this product see the following..

http://www.vtpi.org/tdm/tdm22.htm

[Double A]

Here's another good loan program that not only provides loans for affordable new housing construction, but it provides quality jobs, retirement, and healthcare too:

Proloan

St. Louis Proloan