Home for sale, file. (Scott Olson/Getty Images)
YORKVILLE, Ill. (CBS) — The Illinois town of Yorkville is looking to do something about the depressed new home market.
As WBBM Newsradio’s Mike Krauser reports, Yorkville is offering cash to try to get people to buy new homes — $10,000 at the time of occupancy.
LISTEN: WBBM Newsradio’s Mike Krauser reports
The City of Yorkville and developers are sharing the cost.
The developers will benefit from deferred building permit fees, the Aurora Beacon-News reports. The fees would be due at the time of occupancy, rather than before construction.
The City of Yorkville also plans to cut the municipal building fee from $5,509 all the way down to $1,759, the Beacon-News reports.
The newspaper reports the town has about 9,000 vacant lots.
The program will be limited 30 projects in the first year. It is modeled after a similar program in nearby Minooka that was considered a success, the Beacon-News reported.
4 Comments
Better yet move out into the county where you could build a starter home for $10,000. Get out of those socialist cities.
January 12, 2012 at 11:07 am
Joe, you must have had a brain tumor for breakfast; you cannot build a ‘starter’ home for $10,000. Although, I suppose $10,000 in Missouri would help you eliminate the need for an out house.
January 12, 2012 at 8:08 pm
Is that before or after taxes can you give me the total after the state gets there hands on it
Thanks
January 12, 2012 at 4:17 pm
Who in their right mind would even want to build a home here and be stuck in this bullshiit over taxed state thats is known throughout the land as being the most politicaly corrupt state in history (Under Statement)? Where the criminal element is a protected species.
January 12, 2012 at 10:49 pm