Marshalltown providing $10,000 incentive to residence builders

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New residential construction with permits after June 1, 2021 will be funded.

MARSHALLTOWN, Iowa – The city of Marshalltown has launched a new program to encourage more people to live within the city limits. People who want to build a house can apply receive a $ 10,000 incentive as long as their permits are issued after June 1.

Mayor Joel Greer believes it will make moving easier for people commuting to work.

“We just know that there are a lot of people who could live here every day,” said Greer.

Greer says this is all part of the goal of increasing their population quickly. The last US census showed around 27,500 people in Marshalltown in 2010. Greer hopes to get to 50,000 in a few years.

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“That’s really ambitious,” Greer admitted. “But we have so many commuters who work here that we think it is doable if we can give them an incentive to live here and their children to play football here and go to church here.”

Greer says there are empty lots in all four quadrants of the city, including a new lot north of Idiosyncratic social.

While the incentive applies to homes starting at $ 180,000, the current average price for a home in Marshalltown is $ 111,703. according to Zillow.

The Marshalltown Chamber of Commerce quickly raised $ 500,000 for this from multiple donors and plans to raise a total of $ 1,000,000.

Greer hopes the money will help home builders with their down payments.

“It will be an early start for people who only need the extra $ 10,000 to make the down payment,” he said.

Though Marshalltown weathered several natural disasters in just a few years, Greer is hopeful.

“Here’s a real swing that didn’t exist before our tornado.”

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