SILVIS, Ill (KWQC) – The City of Silvis says its new home-buyer program is going well, and plans to bring it back for another year.
The goal of the program is to get families to build homes in a new subdivision, while bringing more families to the community. As an incentive, once the family has built a house, they receive a cash bonus.
“We offered a $10,000 incentive to a homeowner, once they got their occupancy permit,” said Silvis City Administrator Jim Grafton. “Simple. No strings attached. Once they move in, they get $10,000.” he added.
The incentive money is generated through a Tax Increment Finance district or TIF. Right now, the program is only available in the Deer Meadows subdivision in the 3200 block of 12th St. The city is hoping to expand it to other parts of town.