The purpose of the Live Near Your Work (LNYW) program is the stabilization and revitalization of specific neighborhoods, municipalities, and zip codes surrounding BJC HealthCare’s various locations in St. Louis City and County. The program provides down payment and/or closing cost assistance as an employee benefit for eligible BJC HealthCare employees towards the purchase of a home within the approved eligibility area.

Eligible employees who purchase a home as a primary residence in the neighborhoods, municipalities, and zip codes described below may be able to receive a forgivable loan in the maximum amount of twelve thousand five hundred dollars ($12,500). These funds are to be used to pay either part of the down payment or closing costs on a home purchase. With the approval of the program administrator in his or her discretion, a portion of the loan proceeds may also be used to pay rehabilitation costs.

Refer to the detailed eligible neighborhood maps at this link: lnyw.wustl.edu/eligibility. Click on the magnifying glass icon to type in any address and see if it falls within the boundary area.

City of St. Louis Neighborhoods

Academy, Baden, Benton Park, Benton Park West, College Hill, Compton Heights, Covenant Blu-Grand Center, DeBaliviere Place, Downtown, Downtown West, Dutchtown, Fairground, Forest Park Southeast, Fountain Park, Fox Park, Gate District, Gravois Park, Greater Ville, Hamilton Heights, Hyde Park, Jeff-Vander-Lou, Kingsway East, Kingsway West, Kosciusko, Lafayette Square, LaSalle Park, Lewis Place, Marine Villa, Mark Twain, Mark Twain I-70 Industrial, McKinley Heights, Midtown, Mount Pleasant, Near North Riverfront, North Pointe, North Riverfront, O’Fallon, Old North, Peabody Darst Webbe, Penrose, Riverview, Skinker-DeBaliviere, Soulard, St. Louis Place, Tower Grove East, Vandeventer, the Ville, Visitation Park, Walnut Park East, Walnut Park West, Wells-Goodfellow, West End, and parts of the Central West End

St. Louis County Municipalities

Bel-Nor, Bel-Ridge, Bellefontaine Neighbors, Bellerive Acres, Berkeley, Beverly Hills, Black Jack, Breckenridge Hills, Calverton Park, Charlack, Cool Valley, Country Club Hills, Dellwood, Edmundson, Ferguson, Florissant, Flordell Hills, Glen Echo Park, Greendale, Hanley Hills, Hillsdale, Jennings, Kinloch, Moline Acres, Normandy, Northwoods, Norwood Court, Overland, Pagedale, Pasadena Hills, Pasadena Park, Pine Lawn, Riverview, St. John, Sycamore Hills, Uplands Park, Velda City, Velda Village Hills, Vinita Park, Wellston, Woodson Terrace, and other parts of University City, Hazelwood, and unincorporated St. Louis County

Properties eligible for this program must be:

1-4 family buildings. Condominiums are eligible.

Used as a primary residence by the purchasing employee.

Purchased for $300,000 or less.

Located in one of the program-approved areas.

BJC HealthCare eligible employees must meet all the following criteria:

Full-time employees or part-time employees working 24 or more hours per week at BJC HealthCare in good standing, as verified by Human Resources. Medical residents assigned to BJC HealthCare are classified as WUSTL employees but have benefits provided by BJC and are ELIGIBLE through BJC.

Purchasing an eligible property as described herein.

Must have been an employee of BJC HealthCare for at least one year at the time of your application.

Employee can use this benefit only once. The benefit cannot be combined with another employee’s benefit on a single home purchase.

Eligible employees must qualify for a mortgage through a participating approved lender (see Approved Lenders List).

First time home buyers must participate in a first-time home buying counseling program approved by the program administrator.

Must not be a “disqualified person” of BJC HealthCare. In general, a “disqualified person” includes a trustee, officer, or any other employee, or family member of such employee, who is or was any time during the previous five years in a position to exercise substantial influence of the affairs of BJC HealthCare.

Must not be contingent workers, secondary positions, PRN or persons of interest.

The maximum amount of new forgivable loans to be issued during any fiscal year (January 1 to December 31) is $500,000 and is issued on a first-come, first-served basis.

Each Live Near Your Work program participant and any co-buyer of the property must sign the following legal documents prior to closing.

Truth in Lending Statement

Privacy Notice for Borrowers

Promissory Note

Tax Disclosure Statement

Loans are not secured by a mortgage or deed of trust on the house. If you would like to preview the documents prior to the pre-closing meeting, please contact the program administrator.

The employee and any co-buyer and the Live Near Your Work program administrator will submit for review requested pre-closing documents within five (5) business days of the closing of the property. The employee and any co-buyer must furnish all required documentation to the Live Near Your Work program administrator and sign the required legal documents. Once these items have been accomplished, the Live Near Your Work program administrator will be responsible for having the check and copies of the executed agreements delivered to the appropriate title company. If closing does not occur, the loan will not be funded, and the signed legal documents will be destroyed or returned to the employee.

Once all required documents are received, your employer will wire the funds to your closer. The legal documents will be kept on file at the Washington University Medical Center Redevelopment Corporation, Campus Box 8004, and 1408 Tower Grove Avenue, St. Louis, MO 63110.

The Live Near Your Work program administrator will initiate a quarterly review of all Live Near Your Work program participants by furnishing Human Resources with name and addresses of all Live Near Your Work program participants and a request that Human Resources verify that the employee is still employed by BJC HealthCare and that the address is still the current address for the employee. After Human Resources verifies the information and notifies the Live Near Your Work program administrator of any exceptions, the Live Near Your Work program administrator will contact the employee to resolve discrepancies.

The Live Near Your Work program administrator will get involved as necessary when a sale or transfer of property is involved. The program administrator will consult appropriate officials of BJC HealthCare to determine if loan terms have been violated and what action needs to be taken.

If a Live Near Your Work program participant notifies the Live Near Your Work program administrator of other changes in the participant’s employment or ownership of the property or a desire to prepay the loan, the Live Near Your Work program administrator will notify/seek assistance from appropriate officials of BJC HealthCare.

The following events would cause the remaining balance of your loan to become due and payable:

Employee voluntarily leaves BJC or is terminated for any reason other than reduction in staff.

Award of home in litigation.

Home is sold or transferred.

Home is no longer the primary residence of the employee or primary residence is leased for a period of over three years.

Employee sells home and purchases another one in the eligible neighborhoods prior to the end of the five-year loan period.

The following events would cause the remaining balance of the loan to be forgiven in its entirety:

Employee is terminated due to reduction in staff.

Retirement of the employee.

Permanent disability of the employee.

The Live Near Your Work program loan has certain tax consequences. The amount of the loan that is forgiven will appear on your W-2 statements as “Other Income.” You will be required to count this as part of your taxable income. The rate set by the IRS is 0.3965. Human Resources sets the deduction to be withheld from the employee’s paycheck on a monthly or biweekly basis over a five-year period.

For any or no reason, BJC HealthCare reserves the right to modify or terminate the Live Near Your Work program at any time, provided that no such modification or termination shall apply to any loan previously made pursuant to the program.

The purpose of the Live Near Your Work (LNYW) program is the stabilization and revitalization of specific neighborhoods surrounding Washington University’s various campuses. The program provides down payment and/or closing cost assistance as an employee benefit for eligible Washington University employees towards the purchase of a home within the approved eligibility area.

Eligible employees who purchase a home as a primary residence in the neighborhoods, municipalities, and zip codes described below may be able to receive a forgivable loan in the maximum amount of twelve thousand five hundred dollars ($12,500). These funds are to be used to pay either part of the down payment or closing costs on a home purchase. With the approval of the program administrator in his or her discretion, a portion of the loan proceeds may also be used to pay rehabilitation costs.

Refer to the detailed eligible neighborhood maps at this link: lnyw.wustl.edu/eligibility. Click on the magnifying glass icon to type in any address and see if it falls within the boundary area.

DeBaliviere Place

is defined by Forest Park Parkway to the South, Union Boulevard to the East, Delmar Boulevard to the North, and DeBaliviere Avenue to the West.

West End

is defined by Delmar Boulevard to the South, Belt Avenue and Union Boulevard via Maple Avenue to the East, Page Boulevard on the North, and the city limits to the West.

Skinker-DeBaliviere

is defined by Forest Park Parkway to the South, DeBaliviere Avenue to the East, Delmar Boulevard to the North, and Skinker Boulevard to the West.

Forest Park Southeast

is defined by McRee Avenue to the South, Vandeventer Avenue to the East, Interstate-64 to the North, and Kingshighway Boulevard to the West.

Central West End Northeast

is defined by Olive Street and Lindell Boulevard via North Boyle Avenue to the South, Vandeventer Avenue to the East, Delmar Boulevard to the North, and Walton Avenue to the West.

Parkview Gardens

is defined by Delmar Boulevard to the South, city limits to the East, Olive Boulevard to the North, and Kingsland Avenue to the West.

Academy

is defined by Dr. Martin Luther King Drive to the North, Delmar Boulevard to the South, Kingshighway Boulevard on the East and Union Boulevard on the West.

Visitation Park

is defined by Maple Avenue to the North, Delmar Boulevard to the South, Union Boulevard to the East and Belt Avenue on the West.

Fountain Park

is defined by Dr. Martin Luther King Drive to the North, Delmar Boulevard to the South, Walton Avenue to the East and Kingshighway Boulevard to the West.

Lewis Place

is defined by Dr. Martin Luther King Drive to the North, Delmar Boulevard to the South, North Newstead Avenue to the East and Walton Avenue to the West.

Vandeventer

is defined by Dr. Martin Luther King Drive to the North, Delmar Boulevard to the South, Vandeventer Avenue to the East and North Newstead Avenue to the West.

Parts of University City

including everything North of Olive Boulevard, everything North of Delmar Boulevard and East of Kingsland Avenue, and the section of the 3rd Ward between Olive Boulevard, Old Bonhomme Road / Groby Road, and 81st Street

Properties eligible for this program must be:

1-4 family buildings. Condominiums are eligible.

Used as a primary residence by the purchasing employee.

Purchased for $300,000 or less.

Located in one of the program-approved areas.

Washington University eligible employees must meet all the following criteria:

Full-time employees or part-time employees working 24 or more hours per week at Washington University in good standing, as verified by Human Resources. Graduate students and fellows are not eligible. Medical residents are eligible.

Purchasing an eligible property as described herein.

Must have been an employee of Washington University for at least one year at the time of your application.

Employee can use this benefit only once. The benefit cannot be combined with another employee’s benefit on a single home purchase.

Eligible employees must qualify for a mortgage through a participating approved lender (see Approved Lenders List).

First time home buyers must participate in a first-time home buying counseling program approved by the program administrator.

Must not be a “disqualified person” of Washington University within the meaning of Section 4958 of the Internal Revenue Code, as determined by the Controller of the University in his or her discretion. In general, a “disqualified person” includes a trustee, officer, or any other employee who is or was at any time during the previous five (5) years in a position to exercise substantial influence over the affairs of Washington University as well as his or her family members.

The maximum amount of new forgivable loans to be issued during any academic fiscal year (July 1 to June 30) is $300,000 and is issued on a first-come, first-served basis.

Each Live Near Your Work program participant and any co-buyer of the property must sign the following legal documents prior to closing.

Truth in Lending Statement

Privacy Notice for Borrowers

Promissory Note

Tax Disclosure Statement

Loans are not secured by a mortgage or deed of trust on the house. If you would like to preview the documents prior to the pre-closing meeting, please contact the program administrator.

The employee and any co-buyer and the Live Near Your Work program administrator will submit for review requested pre-closing documents within five (5) business days of the closing of the property. The employee and any co-buyer must furnish all required documentation to the Live Near Your Work program administrator and sign the required legal documents. Once these items have been accomplished, the Live Near Your Work program administrator will be responsible for having the check and copies of the executed agreements delivered to the appropriate title company. If closing does not occur, the loan will not be funded, and the signed legal documents will be destroyed or returned to the employee.

Once all required documents are received, your employer will wire the funds to your closer. The legal documents will be kept on file at the Washington University Medical Center Redevelopment Corporation, Campus Box 8004, and 1408 Tower Grove Avenue, St. Louis, MO 63110.

The Live Near Your Work program administrator will initiate a quarterly review of all Live Near Your Work program participants by furnishing Human Resources with name and addresses of all Live Near Your Work program participants and a request that Human Resources verify that the employee is still employed by Washington University and that the address is still the current address for the employee. After Human Resources verifies the information and notifies the Live Near Your Work program administrator of any exceptions, the Live Near Your Work program administrator will contact the employee to resolve discrepancies.

The Live Near Your Work program administrator will get involved as necessary when a sale or transfer of property is involved. The program administrator will consult appropriate officials of Washington University to determine if loan terms have been violated and what action needs to be taken.

If a Live Near Your Work program participant notifies the Live Near Your Work program administrator of other changes in the participant’s employment or ownership of the property or a desire to prepay the loan, the Live Near Your Work program administrator will notify/seek assistance from appropriate officials of Washington University.

The following events would cause the remaining balance of your loan to become due and payable:

Employee voluntarily leaves WashU or is terminated for any reason other than reduction in staff.

Award of home in litigation.

Home is sold or transferred.

Home is no longer the primary residence of the employee or primary residence is leased for a period of over three years.

Employee sells home and purchases another one in the eligible neighborhoods prior to the end of the five-year loan period.

The following events would cause the remaining balance of the loan to be forgiven in its entirety:

Employee is terminated due to reduction in staff.

Retirement of the employee.

Permanent disability of the employee.

The Live Near Your Work program loan has certain tax consequences. The amount of the loan that is forgiven will appear on your W-2 statements as “Other Income.” You will be required to count this as part of your taxable income. The rate set by the IRS is 0.3965. Human Resources sets the deduction to be withheld from the employee’s paycheck on a monthly or biweekly basis over a five-year period.

For any or no reason, Washington University reserves the right to modify or terminate the Live Near Your Work program at any time, provided that no such modification or termination shall apply to any loan previously made pursuant to the program.