There was recently a news story that featured a cash rebate to anyone building in Stewartville, MN. If building a residential home, owners could receive $5,000 back! I spoke to Chris Stafford with the Stewartville EDA and he told me homeowners can apply for the rebate and have to meet certain criteria, such as the home has to be built on a currently vacant lot and the home has to be valued at $100,000 or more. Multi-family homes and commercial properties are also eligible for a cash rebate. He said there is a $200,000 pool and they will use that until it runs out. The program runs for 2 years. If it makes the 2-year mark and all of the money is not exhausted, he said they will re-evaluate at that time.
There are other communities that also offer incentives for new residential homes. Byron offers 1/4 of the permit cost back, plus 3-months of water supply free.
What a great way to save money! If you are looking to build in another community not listed above, let us know and we will look into possible incentives in that community for you!
The news story can be found Here.