Superior Offers Free Land To Interested Home Builders
Who says 'nothing in life is free'? A relatively new program started by the City of Superior offers land - for free - to qualified home builders as an way to get those land parcels (and the eventual properties on them) back onto the tax roll.
The program is called Vacant to Value and it was inaugurated back in April of this year. It was started to help the City of Superior shed properties that it has ended up with over the past 20 years of so through a variety of means. Some of the city-owned properties were obtained "through acquisition of deeded parcels" while others came to be owned by the municipality by "tearing down dilapidates structures".
Like most things, there are qualifications that must be met for the Vacant to Value program. But, those terms aren't out of the ordinary. According to details shared in the Superior Telegram:
"...would be owners must occupy the new house once it is complete The city requires a deposit, detailed construction plans, and proof of financing to acquire the property. Participants enter into a development agreement with the city, and once the occupancy requirements are met, the deposit is refunded."
Vacant to Value is a seemingly win-win situation for both parties involved - both the city and the eventual property and home owner. Many of these city-owned properties have been off the tax rolls for a while even as there were attempts to get them sold. "Despite some interest, the city has not been able to sell the parcels" up to this point. Additionally, the benefit for the prospective homeowner goes without saying; the program offers a great way for them to save money on a new home.
According to the news article in the Telegram, the City of Superior has "about a dozen parcels they plan to give away for single-family new construction".