The pieces seem to be falling into place for the Pottstown School Board’s plan to help professional employees buy homes in the borough with $10,000 forgivable loans, writes Evan Brandt for the Pottstown Mercury.

The idea was first proposed in July last year by Thomas Hylton, a member of the school board, and he submitted it again at the school board meeting on May 23. Hylton suggested that the motion be adopted as early as next month as an incentive for candidates considering the open Superintendent and Human Resources Director positions.

While the proposal itself was met with support from the majority of board members including Board President, Kim Stilwell, some questioned the short timeframe.

“I love this idea, but we have no system in place yet,” said Stilwell.

The loans would be made available to administration and members of the Federation of Pottstown Teachers, in a similar way to the Montgomery County-funded loan program previously offered to help homeowners fix up their properties.

According to the proposal, to be eligible for the loan, an employee would need to live in the house and would have to be a first-time buyer. Each of the next five years would see 20 percent of the $10,000 loan forgiven, and the employee would need to pay the applicable payroll tax.

Read more about the proposal in the Pottstown Mercury by clicking here.