New program launched to help local law enforcement buy homes
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IDAHO FALLS — A new pilot program is hoping to assist local law enforcement agencies by helping their officers and deputies purchase homes.
The Down Payment Assistance Fund has been launched by the Greater Idaho Falls Police Foundation (GIFPF). Through it, eligible officers can obtain a $6,500 grant for a down payment toward a home, according to a news release from the foundation.
One of the foundation’s board members, Carlan McDaniel, told EastIdahoNews.com that the program came about while the board was looking for more ways to help local officers.
“We were looking for ways that banks specifically could help police departments … and therefore help the police officers,” he said.
While “kicking around” a few ideas for several months, the board became aware of a program through the Federal Home Loan Bank, in Des Moines, Iowa. The bank’s Member Impact Fund offered to match moneys created for eligible foundations.
With donations from several local banks and branches — The Bank of Commerce, Citizens Community Bank and DL Evans Bank — and the Federal Home Loan Bank’s matching program, the GIFPF has created a fund of more than $70,000, McDaniel said.
As requirement laid out by the Federal Home Loan Bank, the fund must go to help those who fit into the lower- to moderate-income rate. So, using census data, the GIFPF created a tier system to rate officers on their household income, and that system is used to determine the officer’s eligibility.
As of now, the program is only prepared to assist officers in Bingham, Bonneville and Jefferson counties.
The GIFPF expects the full $70,000 fund to be used in the next year, but the program could continue if additional donations are received.
Anyone interested in donating to the Down Payment Assistance Fund, or any other programs operated by the GIFPF, can do so at the foundation’s website — here.
The GIFPF was launched in 2020, during the COVID-19 pandemic, as a way for concerned citizens and community leaders to “make southeast Idaho an even safer place to live, work and play,” according to the foundation website.
“Our mission is pretty broad — to support law enforcement,” McDaniel said.
Since 2020, the foundation has assisted local law enforcement agencies by providing equipment, mental health resources, grants and training.