Tri-County Electric Cooperative (TCEC) works diligently to help foster economic development opportunities for the benefit of new and/or existing businesses, local citizens and non-profit organizations. TCEC strives to offer meaningful resources and services to help improve its communities one step at a time.
In 2019, Tri-County participated in a regional economic development study led by Northeast Power. The final report outlined growth opportunities and provided a roadmap for Tri-County and their local partners to follow. Housing was identified as a need and growth opportunity. As a result, TCEC is leading an effort to understand and identify solutions to workforce housing shortages in the region.
TCEC has contracted with Hometown Housing, a comprehensive housing solutions firm. Hometown Housing will help analyze the current housing market, uncover opportunities that exist and assist with program development for sustainable solutions to local housing needs.
The first phase of this process was completed in September. Hometown Housing and TCEC analyzed the current housing market to determine what it needed. This was done through housing surveys and employer led workshops that included voluntary individual employee meetings.
Through employee/employer engagement, partnerships with local realtors, developers and bankers, Hometown Housing strives to create a housing ecosystem focused on creative solutions. “The majority of people who are having trouble achieving home ownership simply need down payment assistance or small credit repair to reach their end goal, said Shane Akers, manager of community relations at Hometown Housing. In their initial meetings, Hometown Housing staff identified five individuals that needed transitional financing to make the dream of home ownership a reality. The Hometown Housing team found a solution for a local nurse and her family with a “rent to own” model that will allow them to stay in the home she had rented for eight years. The owners had planned to sell the house and the family would have been forced to relocate. Phase two of the process will begin in January 2023 with momentum building in Memphis and Kirksville.
Next steps will include engagement meetings with city and county officials and ongoing conversations with employers and employees. For more information on the program, contact TCEC at 1-660-457-3733.