City Council Extends B.U.I.L.D. Incentive Program

Are you a prospective resident thinking about moving to Yorkville and building a new home?

Want to be paid $10,000 to do so?

That’s what the City of Yorkville thought.

The city council voted on March 26 to extend the Buyers of Undeveloped Infill Lot Discount (B.U.I.L.D.) program to spur new home starts in Yorkville.

Permits for qualifying new, single-family residential buildings will now be taken until March 26, 2014 and come with some pretty nice benefits, including:

• Up to $10,000 total to be rebated to the resident; with up to $5,000 being rebated by the City for the building permit fee and the builder/developer matching that amount up to $5,000.
• Municipal building impact fee will drop from $5,509 per residential unit to $1,759.
• Payment of building permit and impact fees will be delayed until issuance of certificate of occupancy

As of 2013, there are approximately 9,400 undeveloped entitled residential units in Yorkville.  Only about 21 percent of the entitled nearly 7,400 single-family residential units in Yorkville have even been constructed.

To learn more about the B.U.I.L.D. program and to see the requirements for participation, visit the City of Yorkville website.