Las Vegas to give some new teachers cash toward home

Dan Kulin

Thursday, May 19, 2005 | 9:33 a.m.

Some new teachers at three Las Vegas high schools will be offered up to $30,000 each toward the purchase of a new home, under a new city program that was unanimously approved by the City Council on Wednesday.

City and Clark County School District officials praised the pilot program, adding that they hope other local governments will adopt similar programs to help make homes affordable for new teachers.

George Ann Rice, School District associate superintendent of human resources, said district officials once told new recruits they would be able to afford a nice house in a nice neighborhood, but not anymore.

"Now we say we can help them find roommates," Rice said.

The Las Vegas program called the Homeownership for Educators Program is funded with $500,000 in city redevelopment funds, which receives revenue from a portion of the property taxes collected in the city's redevelopment areas.

Those eligible for the money are new math, science or special education teachers at either Western, Clark or Desert Pines high schools. The teacher would have to meet income restrictions for their household and purchase a home within the city.

City and school officials have said the eligibility restrictions are based on need because a targeted program is expected to be more successful than a broad one, and because those schools are within the city limits. The program is expected to help 16 teachers buy houses or condominiums.

The money would be a grant so long as the teacher lived in the home and continued working in one of the eligible jobs for 10 years. If they moved out or changed jobs earlier, they would have to pay back part of the money.

For example, if the teacher sold the property within five years of moving in, the teacher would have to repay all of the money y received from the city. If a teacher moved out of the home after six years they would be required to pay back half of the money received from the city program.

Las Vegas Mayor Oscar Goodman said next year the council might consider expanding the program so that current teachers looking to be first-time homebuyers would also be eligible.

Councilwoman Lois Tarkanian, a former School Board member, said perhaps the program should be expanded so special education teachers in certain elementary schools would also be eligible.

Goodman said Tarkanian's suggestion could also be incorporated into the program next year.

Other council members also praised the program before voting 7-0 to approve it.