Niagara Falls invites "urban pioneers"

NIAGARA FALLS, N.Y. (WIVB) - Niagara Falls has an offer recent college grads might find hard to refuse. The Honeymoon Capital has begun a program to pay down student loans for grads who agree to move into the city.

How does $7,000 over two years toward your student loans sound? If you're a recent college graduate, willing to buy or rent in the downtown district, Niagara Falls has a deal for you.

MORE | Want to apply or learn more about the program? Follow this link

Seth Piccirillo of Niagara Falls Community Development said, "You put 20 new people in this area. I think you're going to see a really great urban neighborhood. We always say that we want people to move here and buy a house. We need to get people in the door, and that's what this is about. Not just people in the door, but people that'll be involved in this community."

Margaret Stephens has been living on Fourth Street for about eight months.

"I think it would be a very awesome thing because it would be great for the area, and great for the community. I think it would work," Stephens said.

Applicants who have graduated with a two year degree within the last two years, a bachelor's degree within the last three years or now enrolled in graduate school are eligible.

City officials are quick to point out that this is not just a hand out. They're looking for applicants willing to come into this neighborhood and make an investment.

If you prove to be a good tenant and are current with student loans, the city is willing to pay down some of the debt. Rev. David Crapnell of the First Presbyterian Church of Niagara Falls lives within the target area.

"I'm all for it. Hope it'll work. I'm just wondering how many people will take advantage of the program," he said.

Piccirillo noted, "This is about attracting and retaining our young people. If you're a Niagara Falls kid, you've gone to school somewhere else, we want to see you come back home."

There are only 20 spots available and there is a review process and certain criteria must be met. Applications are due November 16.