mortgage initiative which in this market is a unique product which i believe makes the city of schenectady more competitive and creates greater opportunity for home ownership in our community and i do think our partners a key bank this is the largest open house undertaking that i believe has ever happened in the city of schenectady and i thank prevention all realty for focusing on this and being the initiative and all our partners that are joining as we look to build on today's success and again make it a monthly event that markets connectivity and attracts owner occupied individuals to our great housing stock one of  schenectady and i want to do everything in my power in utilizing city staff and resources to attract people to this community it is an opportunity here that is i believe on  about high taxes we talk about some of the urban problems in why people tend to discount the city of schenectady in other communities and if you do the analysis and some of this is avail in the packets we have real others and some of the individuals from key can talk to you the market his overly compensated for some of those perceived conditions that exist in the market i mean that our housing prices are far lower than they should be and as a result of that some of the taxes and fees represent a greater proportion than in some of our suburban locations or other communities and people look at bat and they say oh it's too high we don't want to live here but when you break it down if you buy a house and you look at your cost of homeownership the mortgage taxes insurance and other related fees in fact homeownership in the city of schenectady is far more competitive than any of the other communities in the region so the questions come up about the school district in we acknowledge there been problems in the past but there's a team in place that is committed to changing that in terms hooper intendant working with cathy lois and the other members of the school board they are changing that dealing with the past problems and reinforcing what is really unparalleled offering of courses in this school district that is i believe second to none in the capital district in if people want to move here want to take advantage of the school district you're going to find that there's opportunities and educational excitement that again is unequalled in unparalleled in the region in that of people's sort through kind of the rhetoric some of this information schenectady is the opportunity the place people should be we should look at schenectady and i want people to live here move here and participate in this community and it's one that i'd like to introduce one of our partners  know i'd like to thank mayor mccarthy and key bank for making us a part of today's of that we look forward to continuing this type of promotion with the city of schenectady for many years to come our company preventer manner homes realtors started ninety years ago right up the street  a little bit better started about ninety years ago read the street where people have susan's now stands schenectady is a very important community to us and we appreciate everything the mayor continues to do to promote this terrific city we will have potential man or mobile app today this will help you with with the tour today it's available the app stores on a smartphone it'll show you where all the properties in the area are part listed and give you more information i just thank you again and we look forward thank you next speaker is a good friend great leader in his we go through transition phase in the school district that we are true we have been blessed to have the expertise and knowledge of he really has opened up the city school district to what we all know it can be should be and will continue to grow and john thank you for being here today and participating in this i'm happy to tell you are a focus in our students learning on teaching we have a wonderful school system that gets lost in some minorities as a long time educator i up close what's really positive about this school district we more on race for our students than any of the other school districts in this area it's a wonderful place answer that we just recently the board just recently completed a process of looking for a new superintendent we were able to attract accomplished educators to apply for the city because they see what's so that he could have his own young children join in the school system and experience what i'm currently school system of this diversity and all standing programs could offer no  conspicuous louder about the school district than someone who would make that come can so we really got a great school system and it is one of the keys to this city and it should attract more and more people to come and live here continue to make this city a great place to live and work pleased with the response this program has had among homebuyers and schenectady at the start homebuyers here have to take our word for it they knew about the program because we announced it publicly however today they can take a tour a remarkable selection of high quality affordable homes that are available in the welcoming neighborhoods of schenectady q this it is a true partnership that works as partnerships should with everyone bringing something unique to the table this is connect to the bridge leadership and attracting new residents to its town the city also brings to bear the expertise of many city departments demonstrating a commitment to providing a higher quality of life for the city resident provincial nearer home has been a great partner from the start they bring many years of experience and professionalism as well as an outstanding selection of homes here within schenectady and he is proud to provide affordable financing that  es home buyers including first time home buyers to join those who already know what a great community the city is connected it is to raise a family and the numbers of the program speak for themselves we've had seventeen clos incense inception of this program start of the end of september that six more since our meeting here this past january we've had over ninety eight new inquiries since january third reference to this program bringing the total interest of prospective over two hundred seventy cents november we have several moments currently in progress that we expect to be wrapping up here shortly in february so you can see the program is working and it's taking effect here in schenectady rope ladder could all be here today we're glad all the homeowners that are in a position to take advantage of this unique financing we welcome you to see the fine balance of here in schenectady thank you original cat cept when we started this was the kind of start out small this month and let it build over the course of the next few months by the individuals here and we clearly see that it's been far more successful than i thought i appreciate everybody's interest that their participation i did made the commitment to make city stephan vailable homes commissioner olson is here cheap dollar aco chief chairs system chief unfortunately we don't have quite as many public employees to send out to every house that day but we will have different people at different places and if people have questions we'll follow up as best we can today and get back to people on tuesday and wednesday so that we will convince people this is the best community we want people to be here in one to take pride in schenectady and with that i would open it up for any questions that write a note of hundred percent to value really with five hundred dollars down they will loan up to fifty thousand dollars of that so the homeowner can go in make repairs modifications to ho up the heating system put in new kitchen and bathroom it's a again unique product in this market where the banks are looking for twenty percent down the higher participation by the owner so it's just it's creative financing terms of a good product if you've got a great school district we're seen investment by general electric we have a great park system and we have just a number of necessarily those things that are newsworthy the program delivering the school district is not something that you read about those kids there that are taking advantage of it they're really going to be great leaders for the future in it's part of this effort to days get that message out that there are a lot of good things that are happening here that are necessarily newsworthy every day but it is a good community and we want people to participate  of this superintendent might be better to actually do a better than present the school we have as an example in our high school number of wonderful offerings that are not available in other places as an example international baccalaureate program we have an outstanding fine arts program we have an outstanding cisco program that's recognized by cisco and set as many people to last we have just a wide range of offerings our courts are offering poker in the book for our high school i would stack up against any in the state the breadth of offerings is impressive the number of outstanding students who graduate in the world to the finest universities and colleges in this land and do it successfully is evidence to how well they're prepared were ninja loans no income no asset no job but you could qualify for a two hundred fifty thousand dollar mortgage not once but twice but three times those are the things that are were wrong that's way that the collapse key bank is for credit qualified owner occupied one in two family houses in fact a fairly conservative mortgage package with a down payment some of the other things it is far more competitive than other instruments  with one hundred percent financing however for responsible lending we're offering pre and post purchase counseling to our clients so we're not only educating them on how to pay their bills we're also educate them on how to maintain the home work with other reality agencies and other banks and we have going discussions with banks realtors to expand and build on this program in that you're trying to care negative aspersions on what is a good program it's an incentive that makes schenectady more competitive in this market and i'm proud to stand here and here he is a partner to that yes ma'am it's exactly correct we don't want people to be in hopes they cannot afford but it's an answer not one of the key things to this financing program again is the ongoing education program so that people learn to manage money better learn to look at other opportunities for retirement investments other things and it becomes the total financial package and so again i'm proud to have key bank as a partner in the sundered taking other questions or should we yes  coming today and appreciate your time consideration and if you have questions comments you have staff here and we'll be available throughout the day thank you