In an effort to stimulate housing growth, officials in Wicomico County have introduced a new grant initiative for eligible property owners and developers. As reported in Delmarva Now:
The Wicomico County Council and the County Executive’s Office have put forth a nearly $400,000 grant initiative intended to boost home ownership and job retention in the county.
The county will award 74 Employment Incentive Grants to developers and new property owners to alleviate them of the impact fee associated with the construction of a new home.
The grants, which will amount to $5,231 each, will go toward developers and property owners constructing single-family detached residences.
The program does not eliminate the impact fee or take away money that would be going to the county’s public schools. As noted in the article:
Framing the grant program under the framework of zero percent loans funded by the county was a way to allow the impact fee to continue to exist while still trying to provide some relief, said council president Matt Holloway.
“We’ve been mindful that this impact fee does serve a purpose and it’s important that we still have an impact fee to go towards education,” Holloway said. “So we’re vary wary of just eliminating the impact fee. That money still does go toward education for every house that is built.”
For more information read the full article in Delmarva Now.