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REP. DEGETTE HELPS LAUNCH SMART COMMUTE PROGRAM TO AID WORKING FAMILIES REACH DREAM OF HOME OWNERSHIP IN COLORADO
Tuesday August 26, 2003FOR IMMEDIATE RELEASE
August 26, 2003
Contact: Josh Freed
(202) 225-4431
DENVER, CO – U.S. Representative Diana DeGette (CO-01) joined officials from Fannie Mae, National Mortgage and RTD on August 26 to announce the launch of a new program designed to help lower-income families purchase homes near rapid transit. She released the following prepared remarks:
" It’s a pleasure to be here with all of you to celebrate the kick-off of the Smart Commute initiative here in Denver. Fannie Mae, National City Mortgage and RTD should all be applauded for their involvement in this important program.
In too many parts of this country, economic realities leave lower income residents no choice but to live far from employment centers and far from public transit. This forces families already struggling to pay for housing to bear the additional financial burden of paying for a car.
For many families, car payments, maintenance, and fuel total almost one-third of household expenses. This is the second largest expense after only rent or mortgage payments.
By supporting affordable housing near public transit, the Smart Commute initiative will help make a lasting positive impact on many Denver-area families by reducing these transportation costs, enabling them to own their own homes and putting more money in their pockets.
We know the positive impact that homeownership makes in communities. It builds strong, healthy, and stable neighborhoods and helps keep our economy growing. The Smart Commute program will also help reduce congestion and enhance economic development along our public transportation corridors.
As you might suspect, Smart Commute initiatives, like the one we’re celebrating today, don’t take place just anywhere.
As with many other smart growth and livable cities initiatives, the Denver metro area is one of only a handful of places in the country to put such a partnership together. In fact we are only the 13th city in the nation to have this program.
Again, I’d like to thank RTD, National City Mortgage and Fannie Mae for putting together the Smart Commute initiative. Through partnerships like this, we can further economic development, and affordable homeownership opportunities for families in the Denver area."
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August 26, 2003
Contact: Josh Freed
(202) 225-4431
DENVER, CO – U.S. Representative Diana DeGette (CO-01) joined officials from Fannie Mae, National Mortgage and RTD on August 26 to announce the launch of a new program designed to help lower-income families purchase homes near rapid transit. She released the following prepared remarks:
" It’s a pleasure to be here with all of you to celebrate the kick-off of the Smart Commute initiative here in Denver. Fannie Mae, National City Mortgage and RTD should all be applauded for their involvement in this important program.
In too many parts of this country, economic realities leave lower income residents no choice but to live far from employment centers and far from public transit. This forces families already struggling to pay for housing to bear the additional financial burden of paying for a car.
For many families, car payments, maintenance, and fuel total almost one-third of household expenses. This is the second largest expense after only rent or mortgage payments.
By supporting affordable housing near public transit, the Smart Commute initiative will help make a lasting positive impact on many Denver-area families by reducing these transportation costs, enabling them to own their own homes and putting more money in their pockets.
We know the positive impact that homeownership makes in communities. It builds strong, healthy, and stable neighborhoods and helps keep our economy growing. The Smart Commute program will also help reduce congestion and enhance economic development along our public transportation corridors.
As you might suspect, Smart Commute initiatives, like the one we’re celebrating today, don’t take place just anywhere.
As with many other smart growth and livable cities initiatives, the Denver metro area is one of only a handful of places in the country to put such a partnership together. In fact we are only the 13th city in the nation to have this program.
Again, I’d like to thank RTD, National City Mortgage and Fannie Mae for putting together the Smart Commute initiative. Through partnerships like this, we can further economic development, and affordable homeownership opportunities for families in the Denver area."
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