Exelon Joins Program to Expand Baltimore City Home Ownership

By Exelon

Live Near Your Work program provides Exelon employees up to $5,000 toward the purchase of a home in the city

BALTIMORE, Nov 18, 2013 (BUSINESS WIRE) -- As part of its continuing efforts to promote strong neighborhoods in the communities where it operates, Exelon Corporation has joined the City of Baltimore's Live Near Your Work program, which provides up to $5,000 to employees who help strengthen Baltimore's urban areas by purchasing a home in the city. Exelon makes the program available to new employees relocating to the area, as well as existing Maryland employees interested in moving into the city to take advantage of its unique commercial and cultural amenities. The company provides participants $2,500 that is matched by the city to help offset home closing costs.

"Exelon has long recognized that thriving cities depend on a strong and well-supported residential base," said Amy Best, senior vice president and chief human resources officer for Exelon. "The Live Near Your Work program supports our commitment to strengthen and grow Baltimore's economy by encouraging employees to live in the city and support local businesses, institutions and the arts. As a company, Exelon benefits by having a workforce that is attuned to the diverse needs of our customers living in all parts of the Baltimore metro area."

The Live Near Your Work program falls under Baltimore's Homeownership Incentive Program, or BHiP, which is a group of initiatives to revitalize and sustain Baltimore neighborhoods. City officials last week announced a campaign to expand participation in the programs, which are aimed at eliminating vacant housing, spurring redevelopment and growing the city's population.

"Employers like Exelon help transform Baltimore neighborhoods by investing in the Live Near Your Work incentive program," said Baltimore Mayor Stephanie Rawlings-Blake. "As we embark on a campaign to double participation in this vital program, the participation of Exelon and other leading partners adds value to the initiative and encourages other employers to join. We appreciate Exelon's support."

Those who are interested in learning more about Live Near Your Work and other BHiP programs may visit www.vacantstovalue.org.

Exelon Corporation EXC -0.92% is the nation's leading competitive energy provider, with 2012 revenues of approximately $23.5 billion. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is one of the largest competitive U.S. power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. The company's Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon's utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).

SOURCE: Exelon Corporation