In October, we celebrated the graduation of our most recent PIE program participants! We have 14 graduates from the last two quarters: five homes purchased, five businesses capitalized and four post-secondary education degrees pursued.
We are grateful for the many supporters and partnerships that allow us to provide the Personal Investment Enterprise Program as a resource to individuals and families in Boulder and Broomfield counties.
In recent months, although some participants have found success, we have found that there are some participants that continue to find it a challenge to purchase an affordable home in the area in which we offer home purchases. Because of this, the PIE Advisory Board made a decision to expand the region in which PIE participants may purchase homes. PIE participants may now look to purchase within the greater Denver metro area (Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, and Jefferson counties) or Weld County or Larimer County depending on funding allocation.
Participants must agree to inform the PIE program if they plan to purchase in a different county than originally disclosed in the savings agreement. Approval of a purchase in a different county than originally disclosed in the savings agreement may be dependent on whether funding for the participant’s matching funds is available for the new county. Notification to PIE at least 10 days prior to purchase is required.
We hope that this change will provide some additional flexibility for participants that have encountered difficulties in finding a home to purchase that fits well for both their family and their budget.
The PIE program looks forward to continuing to support PIE participants that have a goal of first-time homeownership. So far this year, eight PIE participants have become homeowners.
About the Personal Investment Enterprise (PIE) Program:
The Personal Investment Enterprise (PIE) program is a local savings program provided through Community Action Programs of Boulder County and Foothills United Way. The program is designed for low-income families to enroll in financial literacy classes and save through a matched saving account at a rate of 4 to 1. The first step in applying to the program is to attend an orientation meeting with Nino Gallo at Community Action Programs at Boulder County. Nino may be reached at 303-441-3998 or at ngallo@bouldercounty.org.
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