Bragg offering housing loans to employees

Darrell
Darrell Cole
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OXFORD - Oxford businessman John Bragg is offering interest-free forgiveable loans to employees who purchase a home in the community.

"I hope this will provide further encouragement to employees to build a long-term future in this community and with Oxford Frozen Foods," Bragg said.

The program is available to first-time homebuyers who work full-time with Oxford Frozen Foods and wish to own a home within the Oxford school district.

The company will provide forgiveable loans equal to 20 per cent of the value of a property to a maxium of $20,000. The loan will be interest-free and will be written off completely over a 10-year period.

The company's original and major operations, as well as its head office, are located in Oxford while Bragg was born, raised and continues to live in neighbouring Collingwood.

Bragg wants to support the growth and development of the community, for the benefit of the local area and for the long-term benefit of the company's future in the area.

Census data released recently by Statistics Canada indicates Oxford's population has declined by 11.6 per cent from 2001 dropping from 1,332 in 2001 to 1,178 in 2006 - a drop of 154 people.

Oxford has been working to reverse the trend by encouraging people to settle in the community. The town and the company recently completed a housing study while both are also working to end seasonal flooding they feel has been a hindrance to residential growth.

The town also has a new water system and a new Primary to Grade 12 school will open there in September 2009.

dcole@amherstdaily.com

Organizations: Oxford Frozen Foods, Oxford school, Statistics Canada Grade 12 school

Geographic location: OXFORD, Collingwood

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Recent comments

  • Brian
    January 18, 2010 - 11:19

    if mr. bragg really wants people to either stay in oxford or relocate there. maybe he should consider paying his employees what they are worth. dirt wages are not conducive to long term plans. the message he sends is you aren't worth keeping

  • Justin
    January 18, 2010 - 10:53

    Mr. White: A $20, 000 forgiveable loan sounds like a positive message to potential employees to me. Oxford Frozen Foods also pays relatively well compared to other jobs that don't require a high school diploma. If you have an issue with wages, take it up with Rodney MacDonald, not John Bragg.

  • Kathy
    January 18, 2010 - 10:39

    There is no downside to this. As a real estate broker, I have seen the market in Oxford grow increasingly sluggish, and this offer can only help the employees, the town, and yes, Oxford Frozen Foods. Kudos to John Bragg - he has proven once again that he has vision.