The program that allows certain qualified individuals to quadruple their savings for home purchase will continue this year.  The Calcasieu Parish Public Trust Authority met Wednesday. Officers were elected for the coming year and board members voted unanimously to renew the Cooperative Endeavor Agreement between the Calcasieu Parish Police Jury and CPPTA for the Asset Builders of Southwest Louisiana Program.

Asset Builders helps support people wanting to become financially fit and learn how to save to purchase a home.

“It is a very empowering program, an opportunity for those who may have always rented or never owned a home to think differently than what they might be accustomed to,” said Erica Dozier, CPPJ Human Services.

Dozer said classes help familiarize future homeowners with real estate, finance and mortgage lingo, explain closing costs and the importance of insurance so that, God forbid, something should happen, homeowners have the resources to rebuild.

“When homebuyers complete the program, they become eligible for a grant from the parish,” said Tim Castle, CPPTA chair. “The Authority contributes to that program on an as needed basis. So, we generally pledge around $36,000 a year. When it first came out there was commercial interest involved and we really worked to have money designated to first-time homebuyers that have completed the program.”

Six families were helped in 2022, according to Kathy P. Smith, Administrative Secretary.

Applicants who have an adjusted gross income of 200 percent or less of the Federal Poverty Guideline and/or those who are eligible for the Earned Income Credit may apply. Assets cannot exceed $10,000, excluding one vehicle. Every $1 saved is matched with $4, up to $1,000 saved. The total investment – up to $5,000 – must be used to invest in home ownership. Call the Calcasieu Parish Police Jury Human Services Department for details.

Castle said that conversations with Asset Builders parish staff have included discussions of fine-tuning the program in light of higher interest rates.

Castle, Jeffrey Davis and John were reappointed by acclamation as chair, vice-chair and secretary/treasurer, respectively.