AUBURN – Officials will tell more Tuesday about a program encouraging low-income families to save money for home purchases.
Participants open a special banking account, putting aside part of their regular paycheck for at least six months. When they are ready to buy a home, they get a grant of $3 for every dollar they’ve saved.
Coastal Enterprises Inc., is running the program with help from the cities of Lewiston and Auburn. It uses a grant from the U.S. Department of Health and Human Services and Community Development Block Grant money from both cities.
CEI has scheduled an information meeting about the plan at 6 p.m. in Auburn Hall.
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