Cash for buying or building in the RM!
The purpose of the program is to encourage residential development and provide a format for individuals to apply for a municipal grant based on the purchase price of existing residences or the construction of new principal residences.
Policies in place for both Principal Residence (primary residence) and non-Principal Residences (not your primary residence).
Grant amounts shall be determined as follows:
- New Homes – 3% on the building cost* only of the home up to $6,000.00
- Existing Homes – 3% on the purchase price** up to $4,000.00
- Pre-existing Acreages – All land is allowed to be included in the purchase price. Acreage status will be determined by the CDC Board
- Farm Homes – Assessed value of the principal residence shall be used as the purchase price.
- Multi-Family Dwelling – Grant is based on the same criteria as a single family dwelling. Building cost or purchase price is evenly divided between units to determine a grant per unit amount (example: $400,000.00 construction of 4 units = $100,000.00/unit.
$100,000.00 x 3% = $3,000.00 x 4 units = $12,000.00 total grant).