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2010 housing incentives for city of Preston


Fri, Apr 23rd, 2010
Posted in Business Announcements

The city of Preston is offering a housing incentive program that will help people who want to purchase either a new or existing single family home or remodel an existing home that is located within the corporate city limits of Preston. According to Cathy Enerson, Economic Development director, the purpose of this program is to act as a catalyst in helping eligible applicants achieve this goal and pointed out that the Preston Economic Development Authority (EDA) "realizes that adequate housing is a necessary tool to help foster a successful and growing community."

Eligible applicants include any individual or family who is a first-time residential homeowner in the city of Preston (unless the application is for new construction), and either (1) purchases an existing home, (2) builds a new home within city limits (3) or desires to make improvements on their home. Those improvements do not include decks or shingling and must be a minimum investment of $5,000.00.

The city is accepting three (3) applications in each of these categories. Application forms may be picked up at City Hall located at 210 Fillmore Street West, or on line at www.prestonmn.org beginning April 19. They will be dated and reviewed on a first come basis. According to Enerson a few applications have already been received but all programs do not expire until December 31, 2010.

Cathy remarked that this is a good economic tool that could not be offered without the partnership of other entities in the city. For example, applicants accepted who plan to construct a new home will receive the following incentives: waiver of building permit, waiver of utility hook-up fees per unit, city utility credit, Preston Public Utility rebates, $1,000 in Preston bucks (when construction is complete), a free one-year family golf membership at the Preston Golf Course and two free city trees. This is a total value of up to $3,285.00. Those who wish to purchase an existing home will also receive city utility credit, $300 in Preston bucks, city utilities energy audit rebates, free family pool pass, free family golf membership, two free city trees and Preston Public Utility Energy rebates. Total value of this incentive plan is up to $1,890.00. Finally, the individual or family who would like to make significant improvements to their homes will be eligible to receive a waiver of the building permit fee, city utilities energy audit rebate, Preston Public Utilities Energy credit, city utility rebate, $300 in Preston bucks, and two free city trees. This is a total value of up to $1,330.00 in savings.

For more information, you may call Cathy Enerson at 507-765-2153. She is in the Preston office every Monday. Interested individuals should stop by city hall and pick up their applications and get them filled out and returned as quickly as possible.

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