The JPMorgan Chase Foundation is committing a total of $1 million to Detroit. The money will enable about 70 police officers and city employees to move back to the city over the next two years.
City workers will get the money for a down payment on homes in two Detroit Works demonstration neighborhoods, whereas the police will be allowed to qualify for assistance to purchase homes in Project 14 neighborhoods. The foundation will give approximately $25,000 for the first 10 Detroit police officers and $15,000 to help an additional 60 officers and city employees acquire a vacant home.
Click here for the release from Business Wire.