Neillsville City Council Approves New Incentive Program for Home Builders
Friday, August 16th, 2019 -- 1:36 PM
-The Neillsville City Council approved a new incentive program for people who build homes in the city.This idea was first discussed by the city’s Commission on Economic Development. The City of Neillsville has had very few homes, or any kind of dwelling, built with the last several years. The last new home was built back in 2017. The incentive program will provide a onetime financial incentive to developers. The payment is calculated at 5% of the assessed value of a home with a maximum payment of $15,000. For example, when a home is built, completed and has a resident, or residents, living in it, they would assess the home and provide the necessary payment. If the assessed value was $150,000, the developer would receive $7,500. Developers can apply by filling out an NRI Program Application while getting a building permit.
Some restriction include that it must be a single or multi-family dwelling; the incentive payment doesn’t apply to additions, remodeling or construction of accessory buildings; and only building permits for new residential dwellings issued after September 1st of this year will be eligible. The money will not be granted until an Occupancy Permit is awarded; the City Assessor’s Office will assess the home; awards are based on available funding; the actual payment will go to the owner on record; and an award will not be granted if there are any outstanding charges or violations against the property. The city has reached out to the Listeman Foundation for funds for this program, so no money will be taken from the taxpayers of the City of Neillsville.
Feel free to contact us with questions and/or comments.