JBS Foods Canada plans to spend $1.7 million on a Homebuyer Dream Fund to stimulate growth of the local housing market in Brooks, Alta., and provide affordable housing opportunities for qualifying employees.
The fund will allot a $10,000 loan per eligible employee to be used toward a down payment.
Each loan requires no repayment during the first 12 months, accrues zero interest and will be ultimately repaid through payroll deduction over a four-year period.
The company had previously announced an initial Hometown Strong investment of $2 million to address the growing need for affordable family homes in the Brooks area.
Homes eligible to be purchased with the loan must be within 75 kilometres of the JBS Foods Canada facility in Brooks.
