City approves first construction grant

A single-family house or townhouse could receive a 5% rebate on market value.

Benson has approved its first application for its new residential home construction grant program. 
At the Benson City Council’s meeting Feb. 17, Scott and Terri Collins’ application for the grant program for construction of a home at 2005 Robert Street in the Hawleywood Addition. 
 In Northwest Benson, the Hawleywood Fourth Addition has seen the construction of 31 single family homes and 12 twin homes in recent years – 54 residences in all. It also has in place the infrastructure for additional homes as well as space to expand to the east toward Minnesota Highway 29 north.
Under the city’s residential home construction grant program, an owner-occupied of a single-family house or townhouse would receive a 5% rebate on the estimated market value of a home. The maximum rebate would be $15,000. To earn that amount, the building’s estimated market value would have to be $300,000. A $250,000 home would get a $12,500 rebate.
It is likely that the rebates would hit the maximum amount considering even a small, simple home is likely to cost no less than $250,00 and probably more than $300,000 based on today’s construction costs.
 

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