Chase Foundation offers $1M to lure city employees to Detroit

Posted on August 19, 2011

Mayor Dave Bing on Thursday announced a program to entice employees to move back into the city and help provide down-payment grants that he hopes will lure at least 70 people to work and live in the city.

The mayor held a news conference at the soon-to-be new home of a Detroit police officer, who is slated to move into an abandoned house in the 1600 block of Boston in the Boston Edison Historic District. The officer, Tamar Banks, 25, will receive $25,000 in grants that will offset her expected $75,000 mortgage.

The JP Morgan Chase Foundation donated $1 million to the program that will include all city employees, city and bank officials said.

“I’m so excited. This is a great opportunity,” said Banks, who now lives with her parents in the far west side.

The two-year veteran just finished working a 12-hour police shift needed to combat the growing violence wave in the city. “This will be my first home.”

When asked what made her chose the 2,470-square foot home with 4 bedrooms and 2