This is information on the new residential home construction incentive program:
NEW RESIDENTIAL CONSTRUCTION INCENTIVE PROGRAM
The Problem
Rural communities like ours have seen declines in population and school enrollments compared to 10 years ago. Such a trend cannot be sustained so there is a critical need to attract new families to Oregon.
• Efforts to attract new residents can only go so far when there is little availability of existing housing stock and those placed on the market are quickly sold.
• New housing construction costs at $195 per square foot and results in a $300,000 price tag.
• New residents bring additional dollars to the area for shopping and entertainment.
• On a long term basis there will be increased property tax revenue providing stability for the future.
The Solution
Provide a new residential construction incentive program rebating 3 years property taxes and 90% of city building fees to attract buyers. There are buyers out there and we need to give them a solid reason to choose us. Targeted demographics include:
• Local families looking to upgrade but need the financial incentive to fit their budget.
• Empty nesters who want to stay in the area but move to a less hectic and safe environment.
• Area buyers ready for new construction and trying to decide on the location.
Who Is Eligible For This Program
Anyone who constructs a single family, townhome, three family or multifamily structure within the city of Oregon.